Document ID: chunk:federal_register_of_legislation:F2024C01011:reg:17
Version: federal_register_of_legislation:F2024C01011
Segment Type: reg
Provision Reference: reg 17
Character Range: 18440–19471

17  When compulsory run‑off cover administration payment is payable
  A payment, of the amount worked out under section 18, is payable to a medical indemnity insurer for a contribution year starting on or after 1 July 2020 if:
 (a) the insurer has incurred legal, administrative or other costs (whether on its own behalf or otherwise) in respect of complying with Division 2A of Part 3 of the Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 (about provision of run‑off cover to certain medical practitioners); and
 (b) the costs were incurred in the ordinary course of the insurer's business (and not in complying with a request under section 34ZO or 38 of the Act); and
 (c) the insurer has not contravened section 34ZT of the Act in relation to each run‑off cover support payment for the immediately preceding contribution year; and
 (d) the insurer has made a complying application for the payment; and
 (e) the insurer complies with any request under section 34ZO of the Act relating to the payment.