Document ID: chunk:federal_register_of_legislation:F2024C01011:reg:45
Version: federal_register_of_legislation:F2024C01011
Segment Type: reg
Provision Reference: reg 45
Character Range: 47947–49171

45  Amount of subsidy reduced by advance subsidy
 (1) This section applies if:
 (a) it has been determined under section 38 or 39 that an amount of advance subsidy is payable to a medical indemnity insurer on behalf of a medical practitioner for a premium year; and
 (b) an amount (the final amount) of subsidy is payable to the insurer on behalf of the practitioner for the year under subsection 26(1).
Note: That subsection sets out the basic rules for subsidy to be payable.
 (2) The final amount depends on the amount of advance subsidy most recently determined under section 38 or 39 (the advance amount).
 (3) If, apart from this section, the final amount would be greater than the advance amount, the final amount is the difference between:
 (a) the final amount apart from this section; and
 (b) the advance amount.
 (4) If, apart from this section, the final amount would be equal to or less than the advance amount, the final amount is nil.
Note: If, apart from this section, the final amount would be less than the advance amount, the insurer must repay the Commonwealth the difference between the amounts: see section 50.

Division 6—Conditions to be complied with by insurers

Subdivision A—Simplified outline