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Medicare Guarantee (Transfer to the Health Special Account) Direction (No. 1) 2024

I, Anthea Long, First Assistant Secretary, Social Policy Division, Fiscal Group, Department of the Treasury, delegate of the Treasurer, make the following direction.

Dated   21 June 2024

 

Anthea Long

First Assistant Secretary

Social Policy Division

Department of the Treasury

 

 

 

 

Contents

Part 1—Preliminary

1  Name 

2  Commencement

3  Authority

4  Definitions

Part 2—Transfer of amounts to the Medicare Guarantee Fund (Health) Special Account

5  Amount to be transferred to the Health Special Account

Part 1—Preliminary

1  Name

  This instrument is the Medicare Guarantee (Transfer to the Health Special Account) Direction (No. 1) 2024.

2  Commencement

 (1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  Sections 1 to 4 and anything in this instrument not elsewhere covered by this table

Immediately after this instrument is registered.

 

2.  Section 5

The later of:

(a) immediately after the commencement of the provisions covered by table item 1; and

(b) immediately after the crediting referred to in section 5 of the Medicare Guarantee (2024-25 Credit to the Treasury Special Account) Determination (No. 1) 2024 has occurred.

 

Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

 (2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

  This instrument is made under the Medicare Guarantee Act 2017.

4  Definitions

Note:  Expressions have the same meaning in this instrument as in the Medicare Guarantee Act 2017 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.

  In this instrument:

the Act means the Medicare Guarantee Act 2017.

Part 2—Transfer of amounts to the Medicare Guarantee Fund (Health) Special Account

5  Amount to be transferred to the Health Special Account

  Under section 14 of the Act, an amount of $46,000,000,000 is directed to be debited from the Medicare Guarantee Fund (Treasury) Special Account and the same amount is directed to be credited to the Medicare Guarantee Fund (Health) Special Account on the day this section commences.

Note: The Medicare Guarantee Fund (Treasury) Special Account is established by section 6 of the Act. The Medicare Guarantee Fund (Health) Special Account is established by section 12 of the Act.