Commencement information
Column 1	Column 2	Column 3
Provision(s)	Commencement	Date/Details
1. Sections 1 to 3 and anything in this Act not elsewhere covered by this table	The day on which this Act receives the Royal Assent
2. Schedule 1	The day on which this Act receives the Royal Assent
3. Schedule 2	The later of: (a) the 28th day after the day on which this Act receives the Royal Assent; and (b) immediately after item 81 of Schedule 1 to the Health Insurance Commission (Reform and Separation of Functions) Act 1997 commences

Note: This table relates only to the provisions of this Act as originally passed by the Parliament and assented to. It will not be expanded to deal with provisions inserted in this Act after assent.

(2) Column 3 of the table is for additional information that is not part of this Act. This information may be included in any published version of this Act.

3 Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments relating to finance

Health Insurance Commission Act 1973

1 Subsection 3(1)

Insert:

Finance Minister means the Minister who administers the Commonwealth Authorities and Companies Act 1997.

2 Section 9 (note)

Omit “Subject to section 9A, the”, substitute “The”.

3 Section 9A

Repeal the section.

4 Transitional—budget estimates

The requirement to prepare budget estimates for the Health Insurance Commission for a financial year in accordance with section 14 of the Commonwealth Authorities and Companies Act 1997, is taken to have been met if budget estimates have been prepared for that year in accordance with sections 33A and 34 of the Health Insurance Commission Act 1973 as in force before this item commences.

5 Subsection 32A(2)

Omit “Minister for Finance”, substitute “Finance Minister”.

6 Section 33

Omit “Minister for Finance”, substitute “Finance Minister”.

7 Sections 33A and 34

Repeal the sections.

8 Section 36

Repeal the section, substitute:

36 Borrowing

(1) The Commission may, with the written approval of the Finance Minister, borrow money from the Commonwealth or from persons other than the Commonwealth, for the purpose of all or any of the Commission’s functions.

(2) However, the Commission must not borrow money for the purpose of making payments in the course of carrying out the medicare functions of the Commission or any additional functions that are conferred on it under subsection 8AA(2).

Note: The money necessary to make those payments is provided by the Commonwealth under section 33.

(3) Section 38 does not apply in relation to the borrowing of money in accordance with this section.

36A Treatment of income derived from section 33 money

If:

(a) money is paid by the Commonwealth to the Commission under section 33 of this Act; and

(b) the money is invested under subsection 18(3) of the Commonwealth Authorities and Companies Act 1997;

then any income derived from the investment must be paid to the Commonwealth.

Note: For the Commission’s power to invest surplus money, see section 18 of the Commonwealth Authorities and Companies Act 1997.

9 Section 36AA

Repeal the section.

10 Subsection 38(3)

Repeal the subsection.

Schedule 2—Amendments relating to the number of Commissioners

Health Insurance Commission Act 1973

1 Paragraph 10(1)(c)

Omit “5”, substitute “7”.

 

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