Commonwealth Consolidated Regulations

INSURANCE REGULATIONS 2002 - REG 7F

         (1)   This regulation is made for section 62ZZS of the Act.

         (2)   If an amount is paid to, or applied for the benefit of, a person purportedly to meet a claim of the person under Division 3 of Part VC of the Act and the amount is in excess of the person's entitlement (if any) under that Division, the excess amount is a debt due to APRA.

         (3)   APRA may recover the amount of the debt:

                (a)    by bringing proceedings for recovery of the debt in a court of competent jurisdiction; or

               (b)    by withholding the amount of the debt from another payment that would otherwise be paid to the person under Division 3 of Part VC of the Act; or

                (c)    from any amount payable to the person upon the winding up of a declared general insurer that provided insurance cover to the person under a protected policy.

         (4)   Nothing in this regulation is intended to limit the way in which APRA may recover the debt.

         (5)   APRA may, if it considers it appropriate to do so in the particular circumstances of the case, waive the whole or a part of the debt.