Document ID: chunk:federal_register_of_legislation:C2004A04756:body:0:p4
Version: federal_register_of_legislation:C2004A04756
Segment Type: other
Provision Reference: 
Character Range: 7954–10715

the principles determined under subsection (1), the amount of that expenditure that is to be treated as expenditure exclusively related to the performance of functions in one recognised class of functions; and

     (b) treat that amount as expenditure of that kind for the purposes of this Act.

"(3) For the purposes of the National Health Act 1953, an amount that is to be treated as expenditure exclusively related to the performance of its medibank private functions must be taken to be an amount of costs incurred by the Commission in carrying on business as a registered health benefits organisation.

"(4) A reference in this section to expenditure includes a reference to provision for expenditure.

Bank accounts

"35.(1) The Commission must, in relation to each recognised class of functions, open and maintain with an approved bank or approved banks an account or accounts for the purposes of performing functions in that recognised class of functions.

"(2) The Commission must pay into an account maintained by it under subsection (1) for the performance of functions in a recognised class of functions all money paid to it in connection with that recognised class of functions and, subject to subsection (3), must not withdraw from such an account any money other than amounts required to be spent in connection with that recognised class of functions.

"(3) If the Commission is required to spend money in connection with the performance of functions in more than one recognised class of functions, it may withdraw money from an account maintained for the purpose of performing functions in one of those recognised classes of functions.

"(4) If the Commission withdraws money from one account under subsection (3), it must, as soon as practicable:

    (a) withdraw, from an account maintained for the purposes of performing functions in the other recognised class of functions in relation to which expenditure was undertaken, an amount equal to the expenditure that is to be treated for the purposes of this Act as expenditure exclusively related to the performance of functions in that recognised class of functions; and

    (b) pay that money into the account from which the withdrawal under subsection (3) was made.

"(5) In this section, a reference to an approved bank is a reference to a bank approved for the purposes of this section by the Treasurer or by a person who has been authorised by the Treasurer to give approvals under section 63D of the Audit Act 1901.".

Borrowing and investment

11. Section 36 of the Principal Act is amended by inserting after subsection (6C) the following subsection:

"(6D) Money held by the Commission for the performance of its child care cash rebate functions that is not immediately required by