50Repaying advance subsidy exceeding final amount

50 Repaying advance subsidy exceeding final amount

(1) This section applies if: (a) advance subsidy is paid to a medical indemnity insurer on behalf of a medical practitioner for a premium year; and (b) an amount (the final amount) of subsidy would be payable to the insurer on behalf of the practitioner for the year under subsection 26(1) apart from section 45; and (c) the advance subsidy exceeds the final amount.

Note: Subsection 26(1) sets out the basic rules for subsidy to be payable. Section 45 reduces the amount of subsidy payable by advance subsidy paid.

(2) The insurer must repay the excess to the Commonwealth.

Note: Section 66 provides for recovery of the excess.