A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 80 - Settlement sharing arrangements  

Subdivision 80-B - Nominal defendant settlement sharing arrangements  

80-40   Meaning of nominal defendant settlement sharing arrangement etc.  

Meaning of nominal defendant settlement sharing arrangement

(1)  
A nominal defendant settlement sharing arrangement is an arrangement:


(a) that relates to an accident or other incident or 2 or more related accidents or other incidents; and


(b) to which the parties are * operators of a * compulsory third party scheme , where they are parties because the person involved in the accidents or incidents was not covered under an * insurance policy ; and


(c) under which:


(i) one party (the managing operator ) is to make one or more payments or supplies in settlement of a claim, under the compulsory third party scheme, relating to the accidents or incidents; and

(ii) the other party, or one or more of the other parties, (each being a contributing operator ) is to make a payment to the * managing operator in respect of that operator settling the claim.
Meaning of managing operator's payment or supply

(2)  
If a payment or supply mentioned in subparagraph (1)(c)(i) is not a * CTP ancillary payment or supply , it is a managing operator's payment or supply . Meaning of contributing operator's payment

(3)  
A payment mentioned in subparagraph (1)(c)(ii), to the extent that it is not a fee to the * managing operator for managing the process of making settlements under the arrangement, is a contributing operator's payment .


 

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