Commonwealth Numbered Acts

HEALTH INSURANCE COMMISSION AMENDMENT ACT (No. 2) 1976 No. 100 of 1976 - SECT 9

9. Section 35 of the Principal Act is repealed and the following section
substituted:- Bank accounts.
''35. (1) The Commission shall open and maintain with the Reserve Bank or with
a bank or banks approved by the Treasurer for the purposes of this sub-section
an account or accounts for the purpose of the performance of its general
functions.

''(2) The Commission shall open and maintain with a bank or banks approved by
the Treasurer for the purposes of this sub-section an account or accounts for
the purposes of the performance of its medibank private functions.

''(3) The Commission shall pay into an account or accounts maintained by it
under sub-section (1) all moneys paid to the Commission in connexion with its
general functions and, subject to sub-section (5), shall not withdraw from
such an account any moneys other than amounts required to be expended in
connexion with those functions.

''(4) The Commission shall pay into an account or accounts maintained by it
under sub-section (2) all moneys paid to the Commission in connexion with the
performance of its medibank private functions and, subject to sub-section (5),
shall not withdraw from such an account any moneys other than amounts required
to be expended in connexion with those functions.

''(5) Where moneys are required for expenditure by the Commission in connexion
with the performance of both its general functions and its medibank private
functions-

   (a)  the Commission may withdraw those moneys from an account maintained by
        it under sub-section (1), but, if it does so, shall, as soon as
        practicable, withdraw from an account maintained by it under
        sub-section (2) an amount equal to the amount of that expenditure that
        is to be treated, for the purposes of this Act, as expenditure wholly
        and exclusively related to the performance of its medibank private
        functions and pay that amount into an account maintained by it under
        sub-section (1); or

   (b)  the Commission may withdraw those moneys from an account maintained by
        it under sub-section (2), but, if it does so, shall, as soon as
        practicable, withdraw from an account maintained by it under
        sub-section (1) an amount equal to the amount of that expenditure that
        is to be treated, for the purposes of this Act, as expenditure wholly
        and exclusively related to the performance of its general functions
        and pay that amount into an account maintained by it under sub-section
        (2).''.