Health Insurance Commission (Reform and Separation of Functions) Act 1997

Here is the summary:

The Health Insurance Commission (Reform and Separation of Functions) Act 1997 was enacted to amend the Health Insurance Commission Act 1973, enact transitional provisions relating to the transfer of Medibank Private from the Health Insurance Commission to a separate organisation, and for other purposes.

This Part provides for the transfer of Medibank Private functions, assets, contracts, liabilities, staff, and share capital from the Commission to the nominated company. The functions of the Commission include facilitating the transfer from the Commission to the nominated company and assisting in connection with the implementation of this Part.

The Act provides a framework for the transfer of Medibank Private, including provisions for the transfer of funds, assets, contracts, liabilities, staff, and share capital. It also includes measures to ensure continuity of service and other benefits for employees and contributors to the fund.

The Act applies to all external Territories and extends to acts, omissions, matters, and things outside Australia, whether or not in a foreign country.

The transfer of Medibank Private is expected to occur on the fund-transfer day, which is determined by the Minister. The transition process involves various steps, including the formulation of a scheme for the transfer of the Medibank Private fund and business to the nominated company, and making declarations under section 17, 18 or 19.

The Act includes provisions for compensation, delegation, and compliance with other laws. It also provides for the continuation of certain instruments and agreements after the transfer.

This compilation includes amendments up to Act No. 74, 2023, and is registered as part of the Australian Government's online compendium of legislation.