Commonwealth Consolidated Regulations

NATIONAL HEALTH REGULATIONS 1954 - REG 46A

         (1)   For the purposes of subsections 65SA (1) and 65SB (1) of the Act, the rate of interest payable on a repayment that the Commonwealth is liable to make is the rate payable by the Commonwealth Bank of Australia on a term deposit, made on the day on which the relevant payment was made, of an amount equal to the relevant payment.

         (2)   In subregulation (1):

"relevant payment" means an amount paid to the Commonwealth by a person under section 65GT, 65H, 65J or 65K of the Act, as the case requires.

"repayment" means an amount that the Commonwealth is liable to repay to a person under section 65GU, 65H, 65J, 65M, 65N, 65P, 65Q or 65S of the Act, as the case requires, after a relevant payment is paid to the Commonwealth.

"term deposit" means a deposit for a period of 90 days on which interest is paid at maturity.