Medical Indemnity (Run-off Cover Support Payment) Regulations 2020
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Commonwealth Coat of Arms of Australia
Medical Indemnity (Run‑off Cover Support Payment) Regulations 2020
I, General the Honourable David Hurley AC DSC (Retd), Governor‑General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following regulations.
Dated 16 April 2020
David Hurley
Governor‑General
By His Excellency’s Command
Greg Hunt
Minister for Health
Contents
1 Name
2 Commencement
3 Authority
4 Schedules
5 Definitions
6 Applicable percentage for working out amount of run‑off cover support payment
7 Kind of amounts by which premium income is reduced
Schedule 1—Repeals
Medical Indemnity (Run‑off Cover Support Payment) Regulations 2008
1 Name
This instrument is the Medical Indemnity (Run-off Cover Support Payment) Regulations 2020.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
- Commencement information
- Column 1 Column 2 Column 3
- Provisions Commencement Date/Details
-
- The whole of this instrument 1 July 2020. 1 July 2020
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under the Medical Indemnity (Run‑off Cover Support Payment) Act 2004.
4 Schedules
Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.
5 Definitions
In this instrument:
Act means the Medical Indemnity (Run‑off Cover Support Payment) Act 2004.
6 Applicable percentage for working out amount of run‑off cover support payment
For the purposes of paragraph 6(2)(b) of the Act, the percentage of 5% is specified for a contribution year beginning on or after 1 July 2020.
7 Kind of amounts by which premium income is reduced
(1) This section specifies a kind of amounts for the purposes of subsection 7(2) of the Act (which provides for amounts by which a medical indemnity insurer’s premium income for a period under subsection 7(1) of the Act is reduced).
(2) The kind is amounts of refund payable by the insurer to a medical practitioner in respect of an overpayment of a premium for medical indemnity cover (whether or not the overpayment was made during the period for which the insurer’s premium income is being calculated).
Schedule 1—Repeals
Medical Indemnity (Run‑off Cover Support Payment) Regulations 2008
1 The whole of the instrument
Repeal the instrument.