PART 5MODIFICATIONS OF THE ACT

Amendment of section 46 of the Act - waiver23.

(1)

Section 46 of the Act is amended as follows.

(2)

In subsection (4), for paragraphs (a) and (b) substitute—

“(a)

beginning with the effective date of the waiver signed and returned in respect of the fixed rate payment or, where subsection (3)(b) applies, the previous individually assessed payment, and

(b)

ending with the date that, but for subsection (2), would be the effective date of a waiver signed and returned in respect of the further sum.”.

(3)

In subsection (6)—

(a)

before the definition of “relevant abuse” insert—

““effective date”, in relation to a waiver in respect of a redress payment, is—

(a)

in a case where a panel appointed under section 35 determines that the applicant is eligible for a redress payment, the date of that determination,

(b)

in a case where a panel appointed under section 55 to conduct a review determines that the applicant is eligible for a redress payment, the date of that determination,

(c)

in a case where a panel appointed under section 75 to reconsider a determination or, as the case may be, a panel appointed to conduct a review under section 76 determines that a person is or remains, eligible for a redress payment, the date on which it should have been determined that the applicant was eligible for a redress payment had the original determination not been materially affected by an error,”,

(b)

for the definition of “relevant scheme contributor” substitute—

““relevant scheme contributor” is a scheme contributor who is included in the contributor list on the effective date of a waiver signed and returned in accordance with subsection (1).”.