INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
(a) an investment body in relation to a Part VA investment has made a deduction after 30 June 1995 but before the commencement of this section, purportedly under subsection 221YHZC(1A) , from income paid, in respect of a particular financial year, to a person in connection with the investment; and
(b) the amount deducted has been paid to the Commissioner; and
(c) the whole or a part of the amount of the deduction (the excess amount ) was made in error;
(d) if the person applies to the investment body for a refund of the excess amount on the basis of the error, or the investment body becomes aware of the error, before the end of 15 July 1996 - the investment body is liable to pay the excess amount to the person and may recover from the Commissioner, as a debt due to the investment body, so much of the excess amount as it has not recorded as being offset under paragraph 221YHZD(1AB)(c) ; and
(e) if paragraph (d) does not apply - the Commissioner is liable to pay the excess amount to the person.
If the investment body or the Commissioner is liable to pay the excess amount to the person under subsection (1), the person is not entitled to a credit under section 221YHZK in respect of the excess amount.221YHZDAC(3) [Amount recoverable on debt]
An amount payable under paragraph (1)(d) to a person by an investment body is recoverable by the person as a debt.