Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The rate of risk equalisation levy imposed on a particular day is worked out using the following table:
Rate of risk equalisation levy | ||
Item | The rate of levy imposed on a ... | is the rate that ... |
1 | risk equalisation levy day | (a) is determined in writing by APRA ; and (b) applies on that day. |
2 | supplementary risk equalisation levy day | (a) is determined in writing by the Minister; and (b) applies on that day. |
(2) In determining the rate of levy, APRA and the Minister must comply with the Private Health Insurance (Risk Equalisation Policy) Rules made under the Private Health Insurance Act 2007 .
(3) The rate of levy may be set at zero.
(4) An instrument made under paragraph ( a) of item 1 or 2 of the table in subsection ( 1) is not a legislative instrument.