A New Tax System (Goods and Services Tax) Act 1999
Note:Division 80 - Settlement sharing arrangements Subdivision 80-B - Nominal defendant settlement sharing arrangements 80-40 Meaning of nominal defendant settlement sharing arrangement etc. (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.
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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