Commonwealth: Private Health Insurance (Risk Equalisation Levy) Act 2003 (Cth)

Private Health Insurance (Risk Equalisation Levy) Act 2003 No. 73, 2003 Compilation No. 3 Compilation date: 1 July 2016 Includes amendments up to: Act No. 84, 2015 Registered: 21 July 2016 This compilation includes a commenced amendment made by Act No. 56, 2015 About this compilation This compilation This is a compilation of the Private Health Insurance (Risk Equalisation Levy) Act 2003 that shows the text of the law as amended and in force on 1 July 2016 (the compilation date). The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law. Uncommenced amendments The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Legislation Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on the Legislation Register for the compiled law. Application, saving and transitional provisions for provisions and amendments If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes. Editorial changes For more information about any editorial changes made in this compilation, see the endnotes. Modifications If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on the Legislation Register for the compiled law. Self‑repealing provisions If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes. Contents 1 Short title 2 Commencement 3 Crown to be bound 4 Extension of Act to external Territories 5 Definitions 6 Imposition of risk equalisation levy 7 Rate of risk equalisation levy 8 Minister to obtain advice from APRA 10A Private Health Insurance (Risk Equalisation Levy) Rules 11 Regulations Endnotes Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history An Act to impose a levy to be known as the risk equalisation levy on private health insurers, and for related purposes 1 Short title This Act may be cited as the Private Health Insurance (Risk Equalisation Levy) Act 2003. 2 Commencement This Act commences on 1 July 2004. 3 Crown to be bound This Act binds the Crown in each of its capacities. 4 Extension of Act to external Territories This Act extends to Norfolk Island, to the Territory of Cocos (Keeling) Islands and to the Territory of Christmas Island. 5 Definitions In this Act, unless the contrary intention appears: APRA means the Australian Prudential Regulation Authority. private health insurer has the same meaning as in the Private Health Insurance Act 2007. risk equalisation levy means a risk equalisation levy imposed under section 6. risk equalisation levy day means a risk equalisation levy day specified in Private Health Insurance (Risk Equalisation Levy) Rules made for the purposes of section 6. supplementary risk equalisation levy day means a supplementary risk equalisation levy day specified in a determination by the Minister under section 6. 6 Imposition of risk equalisation levy (1) Risk equalisation levy is imposed on each private health insurer: (a) on each day specified in the Private Health Insurance (Risk Equalisation Levy) Rules as a risk equalisation levy day for a financial year; and (b) on each day (if any) determined by the Minister, by legislative instrument, as a supplementary risk equalisation levy day for a financial year. (2) The Private Health Insurance (Risk Equalisation Levy) Rules must not specify more than 4 levy days for a financial year. (3) The determination by the Minister must not specify more than 2 supplementary levy days for a financial year. 7 Rate of risk equalisation levy (1) The rate of risk equalisation levy imposed on a particular day is worked out using the following table: Rate of risk equalisation levy Item The rate of levy imposed on a … is the rate that … 1 risk equalisation levy day (a) is determined in writing by APRA; and (b) applies on that day. 2 supplementary risk equalisation levy day (a) is determined in writing by the Minister; and (b) applies on that day. (2) In determining the rate of levy, APRA and the Minister must comply with the Private Health Insurance (Risk Equalisation Policy) Rules made under the Private Health Insurance Act 2007. (3) The rate of levy may be set at zero. (4) An instrument made under paragraph (a) of item 1 or 2 of the table in subsection (1) is not a legislative instrument. 8 Minister to obtain advice from APRA Before making a determination under section 6 or item 2 of the table in subsection 7(1), the Minister must obtain, and take into account, advice from APRA in relation to the following matters: (a) whether to make a determination under section 6; (b) the day that is to be, or the days that are to be, specified as the supplementary risk equalisation levy day or days for a financial year; (c) the rate that is to be specified as the rate of risk equalisation levy imposed on the supplementary risk equalisation levy day or days. 10A Private Health Insurance (Risk Equalisation Levy) Rules The Minister may, by legislative instrument, make Private Health Insurance (Risk Equalisation Levy) Rules providing for matters: (a) required or permitted by this Act to be provided; or (b) necessary or convenient to be provided in order to carry out or give effect to this Act. 11 Regulations (1) The Governor‑General may make regulations prescribing matters: (a) required or permitted by this Act to be prescribed; or (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act. (2) Before the Governor‑General makes regulations under subsection (1), the Minister must take into consideration any relevant recommendation made to the Minister by APRA. Endnotes Endnote 1—About the endnotes The endnotes provide information about this compilation and the compiled law. The following endnotes are included in every compilation: Endnote 1—About the endnotes Endnote 2—Abbreviation key Endnote 3—Legislation history Endnote 4—Amendment history Abbreviation key—Endnote 2 The abbreviation key sets out abbreviations that may be used in the endnotes. Legislation history and amendment history—Endnotes 3 and 4 Amending laws are annotated in the legislation history and amendment history. The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation. The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law. Editorial changes The Legislation Act 2003 authorises First Parliamentary Counsel to make editorial and presentational changes to a compiled law in preparing a compilation of the law for registration. The changes must not change the effect of the law. Editorial changes take effect from the compilation registration date. If the compilation includes editorial changes, the endnotes include a brief outline of the changes in general terms. Full details of any changes can be obtained from the Office of Parliamentary Counsel. Misdescribed amendments A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation "(md)" added to the details of the amendment included in the amendment history. If a misdescribed amendment cannot be given effect as intended, the abbreviation "(md not incorp)" is added to the details of the amendment included in the amendment history. Endnote 2—Abbreviation key ad = added or inserted o = order(s) am = amended Ord = Ordinance amdt = amendment orig = original c = clause(s) par = paragraph(s)/subparagraph(s) C[x] = Compilation No. x /sub‑subparagraph(s) Ch = Chapter(s) pres = present def = definition(s) prev = previous Dict = Dictionary (prev…) = previously disallowed = disallowed by Parliament Pt = Part(s) Div = Division(s) r = regulation(s)/rule(s) ed = editorial change reloc = relocated exp = expires/expired or ceases/ceased to have renum = renumbered effect rep = repealed F = Federal Register of Legislation rs = repealed and substituted gaz = gazette s = section(s)/subsection(s) LA = Legislation Act 2003 Sch = Schedule(s) LIA = Legislative Instruments Act 2003 Sdiv = Subdivision(s) (md) = misdescribed amendment can be given SLI = Select Legislative Instrument effect SR = Statutory Rules (md not incorp) = misdescribed amendment Sub‑Ch = Sub‑Chapter(s) cannot be given effect SubPt = Subpart(s) mod = modified/modification underlining = whole or part not No. = Number(s) commenced or to be commenced Endnote 3—Legislation history Act Number and year Assent Commencement Application, saving and transitional provisions Private Health Insurance (Reinsurance Trust Fund Levy) Act 2003 73, 2003 15 July 2003 1 July 2004 (s 2) Private Health Insurance (Reinsurance Trust Fund Levy) Amendment Act 2007 37, 2007 30 Mar 2007 Sch 1: 1 April 2007 (s 2(1) item 2) Sch 1 (item 21) Private Health Insurance (Risk Equalisation Levy) Amendment (Norfolk Island) Act 2015 56, 2015 26 May 2015 Sch 1: 1 July 2016 (s 2(1) item 2) — Private Health Insurance (Risk Equalisation Levy) Amendment Act 2015 84, 2015 26 June 2015 1 July 2015 (s 2(1) item 1) Sch 1 (item 10) Endnote 4—Amendment history Provision affected How affected Title.................... am No 37, 2007 s 1..................... am No 37, 2007 s 4..................... am No 56, 2015 s 5..................... am No 37, 2007; No 84, 2015 s 6..................... rs No 37, 2007 s 7..................... am No 37, 2007; No 84, 2015 s 8..................... am No 37, 2007; No 84, 2015 s 9..................... rep No 84, 2015 s 10.................... rep No 84, 2015 s 10A................... ad No 37, 2007 s 11.................... am No 84, 2015