Commonwealth Numbered Acts Commonwealth Numbered Acts(2) If the financial year is the financial year that began on 1 July 1998, the amount of the reduction is the greater of the amount worked out under paragraph (a) and the amount worked out under paragraph (b):
(ii) if, because of the operation of the Private Health Insurance Incentives Act 1997 , that amount of premium is less than the amount of premium that would otherwise have been payable--the amount of premium that would otherwise have been payable; and
(b) the * incentive amount for the policy for the later financial year.
(5) In working out the reduction under this section for an amount of premium payable under a policy, any part of the amount of the premium payable that relates to a period before 1 January 1999 is to be disregarded.
(6) If, because of the operation of the Private Health Insurance Incentives Act 1997 , the amount of a premium payable under a policy for a period after 31 December 1998 is less than the amount that would otherwise have been payable, the amount of the reduction under this section in respect of the premium is reduced by the amount of the difference.