Document ID: chunk:federal_register_of_legislation:C2004A01206:clause:1_25
Version: federal_register_of_legislation:C2004A01206
Segment Type: clause
Provision Reference: sch 1 cl 25
Character Range: 10703–12867

25  Transitional—deferral of payment day for IBNR indemnity contribution

(1) This item applies to an application under section 62 of the Medical Indemnity Act 2002 to defer the payment day for IBNR indemnity contribution for the contribution year that started on 1 July 2003 that:
 (a) was purportedly made before the commencement of this item; and
 (b) would have been valid but for the amendment made by item 1 of Schedule 1 to the Medical Indemnity (IBNR Indemnity) Contribution Amendment Act 2003.

Note: The application will not in fact be valid because the imposition day has been changed retrospectively by item 1 of Schedule 1 to the Medical Indemnity (IBNR Indemnity) Contribution Amendment Act 2003 and one of the results of this is that the applicant will not have been entitled to make the application as the applicant will not have been, at that time, liable to pay an IBNR indemnity contribution.

(2) An application that this item applies to has effect, and may be dealt with by the HIC, after the commencement of this item as though it were a valid application.

(3) A purported approval under section 62 of the Medical Indemnity Act 2002 before the commencement of this item of an application to which this item applies has effect, and may be dealt with by the HIC, after the commencement of this item as though it were a valid approval if, but for the amendment made by item 1 of Schedule 1 to the Medical Indemnity (IBNR Indemnity) Contribution Amendment Act 2003, the approval would have been valid.

Note: The approval will not in fact be valid because the application for the approval was not in fact valid (see the note to subitem (1)).

(4) As soon as practicable after the commencement of this item, the HIC must give an applicant whose approval has effect under subitem (3) as though it were valid a written notice that:
 (a) states that the application has been approved; and
 (b) specifies the deferred payment day worked out under subsection 62(4) of the Medical Indemnity Act 2002 as amended by this Schedule; and
 (c) states the effect of subsection 62(7) of the Medical Indemnity Act 2002 as inserted by item 15 of this Schedule.