PRIVATE HEALTH INSURANCE INCENTIVES ACT 1997
PART 2 - THE INCENTIVES SCHEME
Division 5 - What effect does the scheme have on insurance premiums?
SECTION 5-6 PREMIUMS PAID IN RESPECT OF CERTAIN PERIODS AROUND 1 JULY 1997 5-6(1) [Action required on or before 31 August 1997] If: (a) a person has applied before 1 July 1997 to a health fund for registration under Division 4 in respect of a private health insurance policy for the financial year commencing on that day; and (b) the person has paid an amount of premium payable under the policy in respect of a period starting on or before 1 July 1997 and ending on a day (the expiry day ) after 31 July 1997; the health fund must, on or before 31 August 1997, either: (c) pay to the person an amount equal to the amount that is payable to the health fund under Division 8 in respect of the policy during the current policy period; or (d) offset that amount against amounts of premium that the person would be liable to pay to the health fund after the expiry day if the policy were to continue in force after that day. 5-6(2) [Interpretation] In this section: current policy period means the period starting on 1 July 1997 and ending on the expiry day.
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