•     This Part provides for the transfer of Medibank Private from the Health Insurance Commission to a new company (in this Part called the nominated company ). Medibank Private was a part of the Commission as at the commencement of this Part.

•     At the time of the transfer, the nominated company will be owned by the Commission.

•     Some time after the transfer, the nominated company will be separated from the Commission. The separation will be achieved by transferring ownership of the nominated company to the Commonwealth.