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This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Private
Health Insurance (Reinsurance Trust Fund Levy) Bill
2003
No. ,
2003
(Health and
Ageing)
A Bill for an Act to impose a levy
to be known as the Reinsurance Trust Fund levy on registered health benefits
organizations, and for related purposes
Contents
A Bill for an Act to impose a levy to be known as the
Reinsurance Trust Fund levy on registered health benefits organizations, and for
related purposes
The Parliament of Australia enacts:
This Act may be cited as the Private Health Insurance (Reinsurance
Trust Fund Levy) Act 2003.
This Act commences on 1 July 2004.
This Act binds the Crown in each of its capacities.
This Act extends to the Territory of Cocos (Keeling) Islands and to the
Territory of Christmas Island.
In this Act, unless the contrary intention appears:
Council has the same meaning as in the National Health
Act.
National Health Act means the National Health Act
1953.
registered health benefits organization has the same meaning
as in the National Health Act.
Reinsurance Trust Fund means the Health Benefits Reinsurance
Trust Fund established by subsection 73BC(2) of the National Health
Act.
Reinsurance Trust Fund levy means a Reinsurance Trust Fund
levy imposed under section 6.
Reinsurance Trust Fund levy day means a Reinsurance Trust
Fund levy day specified in the regulations made for the purposes of
section 6.
supplementary Reinsurance Trust Fund levy day means a
supplementary Reinsurance Trust Fund levy day specified in a determination by
the Minister under section 6.
(1) Reinsurance Trust Fund levy is imposed on each registered health
benefits organization:
(a) on each day specified in the regulations as a Reinsurance Trust Fund
levy day for a financial year; and
(b) on each day (if any) determined in writing by the Minister as a
supplementary Reinsurance Trust Fund levy day for a financial year.
(2) The regulations must not specify more than 4 levy days for a financial
year.
(3) The determination by the Minister must not specify more than 2
supplementary levy days for a financial year.
(1) The rate of Reinsurance Trust Fund levy imposed on a particular day is
worked out using the following table:
|
Rate of Reinsurance Trust Fund levy |
||
|---|---|---|
|
Item |
The rate of levy imposed on a... |
is the rate that... |
|
1 |
Reinsurance Trust Fund levy day |
(a) is determined in writing by the Council; and |
|
2 |
supplementary Reinsurance Trust Fund levy day |
(a) is determined in writing by the Minister; and |
(2) In determining the rate of levy, the Council and the Minister must
follow the Ministerial principles determined under subsection 73BC(5B) of the
National Health Act.
(3) The rate of levy may be set at zero.
Before making a determination under section 6 or item 2 of the
table in subsection 7(1), the Minister must obtain, and take into account,
advice from the Council in relation to the following matters:
(a) whether to make a determination under section 6;
(b) the day that is to be, or the days that are to be, specified as the
supplementary Reinsurance Trust Fund levy day or days for a financial
year;
(c) the rate that is to be specified as the rate of Reinsurance Trust Fund
levy imposed on the supplementary Reinsurance Trust Fund levy day or
days.
(1) This section applies to the amount of each payment that the Council
purported before 1 July 2004 to determine that a registered health benefits
organization was to make into the Reinsurance Trust Fund on a particular date
under subsection 73BC(6) of the National Health Act.
(2) By force of this section, Reinsurance Trust Fund validation levy of an
equal amount is taken to have been imposed on the organization on that
date.
(3) The amount of Reinsurance Trust Fund validation levy for which the
organization is liable is:
(a) reduced by the sum of the amounts the organization paid into the
Reinsurance Trust Fund in accordance with the determination the Council
purported to make under subsection 73BC(6) of the National Health Act;
and
(b) increased by so much of the sum of those amounts as the organization
recovers from the Council or the Reinsurance Trust Fund.
(4) Amounts paid by an organization in accordance with determinations the
Council purported to make under subsection 73BC(6) of the National Health Act
are taken to be applied to the Reinsurance Trust Fund validation levies in the
order in which the Council purported to make the determinations.
(1) This section applies to the amount of each payment that the Council
purported before 1 July 2004 to determine that a registered health benefits
organization was to make into the Reinsurance Trust Fund on a particular date
under subsection 73BC(9) of the National Health Act.
(2) By force of this section, late payment validation penalty of an equal
amount is taken to have been imposed on the organization on that date.
(3) The amount of late payment validation penalty for which the
organization is liable is:
(a) reduced by the sum of the amounts the organization paid into the
Reinsurance Trust Fund in accordance with the determination the Council
purported to make under subsection 73BC(9) of the National Health Act;
and
(b) increased by so much of the sum of those amounts as the organization
recovers from the Council or the Reinsurance Trust Fund.
(4) Amounts paid by an organization in accordance with determinations the
Council purported to make under subsection 73BC(9) of the National Health Act
are taken to be applied to the late payment validation penalties in the order in
which the Council purported to make the determinations.
(1) The Governor-General may make regulations prescribing
matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving
effect to this Act.
(2) Before the Governor-General makes regulations under
subsection (1), the Minister must take into consideration any relevant
recommendation made to the Minister by the Council.