Document ID: chunk:federal_register_of_legislation:C2016C00325:section:8
Version: federal_register_of_legislation:C2016C00325
Segment Type: section
Provision Reference: s 8
Character Range: 5895–6711

8  Payment of premiums
 (1) After the transfer time, Division 4A of Part VII of the SRC Act applies to the Bank body as if:
 (a) the Bank body continued to be a Commonwealth authority; and
 (b) the Bank body were not required to pay a premium under that Division in respect of the part of a financial year that occurs after the transfer time; and
 (c) the following word and paragraph were added at the end of subsection 96H(1) of the SRC Act:
                 "; or (f) in the case of an authority—the authority is not required to pay a premium under this Division in respect of part of a financial year.".
 (2) If an amount of premium payable by the Bank body in respect of a period before the transfer time remains unpaid, the amount is a debt due to the Commonwealth by the Bank body and is payable to Comcare.