Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If an entity is liable to pay a scheme debt, the Commonwealth may recover the scheme debt from the entity by deducting the amount of the scheme debt from either or both of the following:
(a) one or more amounts that are payable to the entity by way of an advance or advances on account of a grant or grants that may become payable to the entity;
(b) one or more grants that are payable to the entity under a TCF scheme.
(2) If the scheme debt is deducted as mentioned in subsection ( 1), the amount covered by paragraph ( 1)(a) and the grant covered by paragraph ( 1)(b) are taken to have been paid in full to the entity.
Example: An entity has a scheme debt of $1,000 in relation to a grant paid under the TCF Post - 2005 (SIP) scheme. An advance of $11,000 under the Clothing and Household Textile (BIC) scheme is payable to the entity. The $1,000 scheme debt may be deducted from the advance, so that the entity only actually receives $10,000. However, the entity is taken to have been paid an advance of $11,000.