Australian Capital Territory
Explanatory Statement
Health (Interest Charge) Determination 2008 (No 1)
Disallowable Instrument DI2008-212
made under the
Health Act 1993, s 193 ( Payment of Fees and Interest)

This Determination of Fees revokes and replaces the Determination of Fees and Interest DI2007-322, dated 20 December 2007.

The Determination comes into effect on 1 September 2008 and reproduces Determination DI2007-324 except for:

•	Increasing interest charges from 14.91% to 15.81%; and

•	the date of effect.

Interest charges are based on the following methodology, being the sum of two components:

•	A market rate, determined from the average monthly 90-day bank bill rate for the relevant month and set down on the Reserve Bank of Australia web site (the average monthly rate for June 2008 was 7.81%); and

•	a premium rate (fixed at 8%).