3Designated sale day

3 Designated sale day

(1) If, in the opinion of the Minister for Finance, a particular day is the first day after the commencement of Schedules 1 and 2 on which all the shares in Medibank Private are held by a person, or persons, other than the Commonwealth or a wholly‑owned Commonwealth company, the Minister for Finance must, by written instrument, declare the day to be the designated sale day for Medibank Private. (2) The declaration under subsection (1) has effect accordingly. (3) The declaration under subsection (1) is a legislative instrument for the purposes of the Legislative Instruments Act 2003, but section 42 of that Act does not apply to the declaration.

Note: After the declaration was made, the Legislative Instruments Act 2003 was renamed as the Legislation Act 2003.

(4) The designated sale day may be earlier than the day on which the declaration under subsection (1) is registered under the Legislative Instruments Act 2003.

Note: After the declaration was made, the Legislative Instruments Act 2003 was renamed as the Legislation Act 2003.

(5) In this section:

Medibank Private means Medibank Private Limited (ACN 080 890 259).

Minister for Finance means the Minister administering the Public Governance, Performance and Accountability Act 2013.

wholly‑owned Commonwealth company has the same meaning as in Schedule 2.