25Transitional provisions relating to Division 4A of Part VII of the SRC Act

25 Transitional provisions relating to Division 4A of Part VII of the SRC Act

(1) On and after the sale day, Division 4A of Part VII of the SRC Act applies to a CSL body as if: (a) the CSL body continues to be a Commonwealth authority; and (b) the CSL body is not required to pay a premium under that Division in respect of that part of a financial year which occurs after the sale day; and (c) the following word and paragraph were added at the end of subsection 96H(1): “; or (f) in the case of an authority—the authority is not required to pay a premium under this Division in respect of part of a financial year.”. (2) If, 60 days after the sale day, an amount of premium payable by a CSL body to Comcare in respect of the period before the sale day remains unpaid, the amount is a debt due to the Commonwealth and payable to Comcare.