Document ID: chunk:federal_register_of_legislation:F2016C00820:body:0:p11
Version: federal_register_of_legislation:F2016C00820
Segment Type: other
Provision Reference: 
Character Range: 25934–28665

11 (1) (e), having taken account of any adjustment amount, APRA must determine that an amount equal to the difference is the appropriate amount to be debited from the Special Account for payment to the insurer for the quarter concerned.
(2)        If an insurer conducts more than one health benefits fund in one or more State, the amount to be debited from the Special Account for payment to that insurer is to be determined by offsetting any amount of levy worked out in respect of each of those funds as determined in accordance with Part 2.

17.                  Manner and time of payment
(1)        Subject to subrule (2), APRA must debit from the Special Account an amount worked out in accordance with rule 16 and pay that amount to an insurer and must do so without unnecessary delay.
(2)        If an insurer has not paid the amount of levy (outstanding levy) imposed under the Levy Act within 14 days after the risk equalisation levy day, APRA must make an instalment payment to all insurers to which payment is due, by paying an amount proportional to the levies received for the quarter and the total amount due to each insurer.
(3)        When any part of the outstanding levy is paid, APRA must make further instalment payments, in the next quarter after the amount is received, proportionately to the amount due to the relevant insurers.
(4)        Where non-levy is credited to the Special Account APRA may debit from the Account amounts up to that amount of non-levy for payment to insurers, but such payments must be made simultaneously to all insurers and must be determined proportionally for each insurer in accordance with the number of single equivalent units of that insurer in the quarter immediately before the payment is made.
(5)        In subrule (4), non-levy means an amount referred to in section 318-5 of the Act, other than levy.

Part 4 Calculating adjustment amounts

18.                  References to 'the Special Account'
In this Part, references to 'the Special Account' mean the Risk Equalisation Special Account or the Risk Equalisation Trust Fund established by section 318-1 of the Act as in force immediately before the commencement of Schedule 1, Part 1, Division 1 of the Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015, as the case requires.

19.                  Calculation where error in amount paid as levy or amount debited from the Special Account
(1)        If a calculation (the primary calculation) was made of the amount to be paid by an insurer as levy for a quarter, for crediting to the Special Account, or an amount to be debited from the Special Account for payment to the insurer for the quarter:
(a)