Commonwealth Numbered Acts

HEALTH INSURANCE COMMISSION (REFORM AND SEPARATION OF FUNCTIONS) ACT 1997 No. 159 of 1997 - SECT 16

(1) The Minister may, by writing, formulate a scheme for the transfer of the
Medibank Private fund, and the business of that fund, to the nominated
company.

(2) The scheme must provide that the transfer will occur on the fund-transfer
day.

(3) The scheme must provide that the transfer does not affect the continuity
of a person's status as a contributor to the fund.

(4) The scheme must require the nominated company to adopt the rules in force
under section 8A of the Health Insurance Commission Act 1973 immediately
before the fund-transfer day, subject to such modifications (if any) as are
set out in the scheme. However, this subsection does not prevent the rules
from being varied by the nominated company after the fund-transfer day.

(5) The scheme may contain such ancillary or incidental provisions as the
Minister considers appropriate.

(6) The scheme must set out outlines of any declarations, contracts or other
arrangements:

   (a)  under which the proposed transfer is to be carried out; or

   (b)  that are otherwise necessary to give effect to the scheme.

(7) The scheme has effect accordingly and is binding on all persons.

(8) A copy of the scheme is to be published in the Gazette within 14 days
after the formulation of the scheme.

(9) To avoid doubt, the scheme may be varied or revoked, in accordance with
subsection 33(3) of the Acts Interpretation Act 1901, at any time before the
fund-transfer day.

(10) This section does not limit section 17, 18 or 19.

(11) In this section: declaration means a declaration under section 17, 18 or
19.