Medicare Guarantee (2020-21 Credits to the Special Account No. 2) Determination 2021
I, Josh Frydenberg, Treasurer, make the following determination.
Dated 24 May 2021
Josh Frydenberg
Treasurer
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
Part 2—Determination of further amount to be credited to the Medicare Guarantee Fund (Treasury) Special Account in relation to 2020-21
5 Crediting of amounts to the Medicare Guarantee Fund (Treasury) Special Account
Part 1—Preliminary
1 Name
This instrument is the Medicare Guarantee (2020-21 Credits to the Special Account No. 2) Determination 2021.
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. The whole of this instrument | The day after this instrument is registered. | |
Note: This table relates only to the provisions of this instrument as originally made.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: Paragraph 13(1)(b) of the Legislation Act 2003 has the effect that expressions have the same meaning in this instrument as in the Medicare Guarantee Act 2017 as in force from time to time.
In this instrument:
the Act means the Medicare Guarantee Act 2017.
Part 2—Determination of amount to be credited to the Medicare Guarantee Fund (Treasury) Special Account in relation to 2020-21
5 Crediting of amounts to the Medicare Guarantee Fund (Treasury) Special Account
Under subsection 7(1) of the Act, an amount of $4,202,531,000.00 is specified to be credited to the Medicare Guarantee Fund (Treasury) Special Account on the day this instrument commences for the budget year beginning on 1 July 2020.
Note: The Medicare Guarantee Fund (Treasury) Special Account is the special account established by section 6 of the Medicare Guarantee Act 2017.
Overview
The Medicare Guarantee (2020-21 Credits to the Special Account No. 2) Determination 2021 was enacted to address the need for further financial allocations to the Medicare Guarantee Fund for the budget year starting on 1 July 2020. This notifiable instrument was made by Josh Frydenberg, the Treasurer, under the authority granted by the Medicare Guarantee Act 2017. The primary objective of this determination is to credit an additional specified amount to the Medicare Guarantee Fund (Treasury) Special Account, ensuring that the fund is adequately resourced to meet the healthcare needs of the Australian population. This determination was issued to facilitate the necessary financial adjustments in response to the budgetary requirements for the mentioned fiscal year.
Scope and Application
The Medicare Guarantee (2020-21 Credits to the Special Account No. 2) Determination 2021 applies to the Medicare Guarantee Fund (Treasury) Special Account, which is established under the Medicare Guarantee Act 2017. This determination specifies the further amount to be credited to this special account in relation to the budget year beginning on 1 July 2020, amounting to $4,202,531,000.00. The Act applies at the Commonwealth level and is made under the authority of the Treasurer, as stipulated in the Medicare Guarantee Act 2017. The terms used in this determination have the same meanings as defined in the Medicare Guarantee Act 2017. The commencement of the instrument is effective from the day after it is registered, as detailed in the instrument itself. No specific exclusions, exemptions, or thresholds are mentioned in this determination, and the application of the Act is not extended or restricted through subordinate instruments in this particular case.
Key Provisions
The Medicare Guarantee (2020-21 Credits to the Special Account No. 2) Determination 2021 specifies the amount to be credited to the Medicare Guarantee Fund (Treasury) Special Account for the 2020-21 budget year. Specifically, section 5 of the Determination mandates that an amount of $4,202,531,000.00 be credited to this special account on the day the instrument commences, which is the day after its registration. This determination is grounded in the authority conferred by subsection 7(1) of the Medicare Guarantee Act 2017.
The Determination imposes clear obligations on the parties involved, primarily ensuring that the specified amount is correctly and timely credited to the Medicare Guarantee Fund (Treasury) Special Account. This requirement is vital for maintaining the integrity and functionality of the Medicare system, as the fund is integral to supporting the Medicare Guarantee. The obligations extend to the Treasurer, who is responsible for ensuring the crediting of the specified amount in accordance with the Determination.
Breaching the requirements set out in the Determination could result in legal repercussions. While the Determination itself does not explicitly state penalties or consequences for non-compliance, it operates under the broader framework of the Medicare Guarantee Act 2017. Any failure to adhere to the provisions of the Act or the Determination could potentially lead to civil or criminal liabilities, including fines or imprisonment, as stipulated by the Act. The specific penalties would be aligned with those prescribed under the Act, reflecting the seriousness of ensuring the proper functioning of the Medicare system.