Contents

1............ Short title [see Note 1] ....................................................................... 1

2............ Commencement .................................................................................. 1

3............ Designated sale day ............................................................................ 1

4............ Schedule(s) .......................................................................................... 2

Schedule 1--Amendments commencing on the day after Royal Assent 3

Part 1--Sale of the Commonwealth's equity in Medibank Private Limited 3

Health Insurance Commission (Reform and Separation of Functions) Act 1997                3

Part 2--Other amendments                                                                                            4

National Health Act 1953                                                                                           4

Schedule 2--Facilitation of the sale of the Commonwealth's equity in Medibank Private Limited etc.    6

Part 1--Introduction                                                                                                         6

Part 2--Medibank Private sale scheme                                                                    9

Part 3--Profit status of Medibank Private                                                             22

Part 4--Restrictions on ownership of Medibank Private companies           27

Division 1--Introduction                                                                                           27

Division 2--Limits on ownership                                                                             28

Division 3--Interpretation                                                                                         33

Part 5--Australian identity of Medibank Private companies                           43

Part 6--Restrictions on transfer of assets and liabilities of the Medibank Private fund               45

Part 7--Injunctions                                                                                                          46

Part 8--Miscellaneous                                                                                                   48

Schedule 3--Amendments commencing on the designated sale day        52

Commonwealth Borrowing Levy Act 1987                                                            52

Health Insurance Commission (Reform and Separation of Functions) Act 1997                52

Remuneration Tribunal Act 1973                                                                            52

Notes                                                                                                                                             53

An Act about the sale of the Commonwealth's equity in Medibank Private Limited, and for other purposes

Notes to the Medibank Private Sale Act 2006

Note 1

The Medibank Private Sale Act 2006 as shown in this compilation comprises Act No. 160, 2006 amended as indicated in the Tables below.

For all relevant information pertaining to application, saving or transitional provisions see Table A.

Table of Acts

Act	Number and year	Date of Assent	Date of commencement	Application, saving or transitional provisions
Medibank Private Sale Act 2006	160, 2006	11 Dec 2006	Schedules 1 and 2: 12 Dec 2006 Schedule 3: (see s. 2(1)) Remainder: Royal Assent
Private Health Insurance (Transitional Provisions and Consequential Amendments) Act 2007	32, 2007	30 Mar 2007	Schedule 2 (items 57-73): 1 Apr 2007 (see s. 2(1))	--
Same‑Sex Relationships (Equal Treatment in Commonwealth Laws--General Law Reform) Act 2008	144, 2008	9 Dec 2008	Schedule 7 (items 8-15): 10 Dec 2008	Sch. 7 (item 15)
Statute Law Revision Act 2010	8, 2010	1 Mar 2010	Schedule 5 (items 70, 71): Royal Assent	--
Corporations Amendment (Corporate Reporting Reform) Act 2010	66, 2010	28 June 2010	Schedule 1 (items 58, 59): Royal Assent	--
Trade Practices Amendment (Australian Consumer Law) Act (No. 2) 2010	103, 2010	13 July 2010	Schedule 6 (items 1, 75): 1 Jan 2011	--

Table of Amendments

ad. = added or inserted     am. = amended     rep. = repealed     rs. = repealed and substituted
Provision affected	How affected
Schedule 2
Item 1...................................	am. No. 32, 2007
Items 9, 10...........................	am. No. 32, 2007
Item 12.................................	am. No. 32, 2007
Item 14.................................	am. No. 32, 2007
Item 15.................................	am. No. 32, 2007; No. 8, 2010
Item 16.................................	am. No. 32, 2007
Item 20.................................	am. No. 32, 2007; No. 103, 2010
Item 21.................................	am. No. 32, 2007
Item 22.................................	am. No. 32, 2007; No. 8, 2010
Item 23.................................	am. No. 32, 2007
Item 33.................................	am. No. 144, 2008
Item 57.................................	am. No. 32, 2007; No. 66, 2010
Item 58.................................	am. No. 32, 2007

Table A

Application, saving or transitional provisions

Same‑Sex Relationships (Equal Treatment in Commonwealth Laws--General Law Reform) Act 2008 (No. 144, 2008)

Schedule 7

15  Transitional provision

(1)        For the purposes of clauses 29 and 30 of Schedule 2 of the Medibank Private Sale Act 2006, if:

                     (a)  apart from this subitem, an unacceptable ownership situation would exist in relation to a Medibank Private company on the day on which the amendments of that Act made by this Schedule commence; and

                     (b)  that situation would exist only because of the amendments;

the situation is, during the period of 6 months starting on the day on which the amendments commence, taken not to exist for so long as it would otherwise have existed.

(2)        If:

                     (a)  on the day on which the amendments of the Medibank Private Sale Act 2006 made by this Schedule commence, a person would, apart from this subitem, be required by regulations made for the purposes of clause 32 of Schedule 2 to that Act to do something in relation to an ownership matter; and

                     (b)  the person would not be required to do that thing if the amendments had not been made;

the person is, during the period of 6 months starting on the day on which the amendments commence, taken not to be required to do that thing for so long as the person would otherwise have been required to do that thing.