Australian Capital Territory
Explanatory Statement
Health (Interest Charge) Determination 2012 (No 1)
Disallowable Instrument DI2012-180
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 DI2011-95 dated 11 May 2011.

The Determination comes into effect on 1 August 2012 and reproduces Determination DI2011-95 except for:

•	Decreasing interest charges from 12.90% to 11.66%; 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 May 2012 was 3.66%); and

•	a premium rate (fixed at 8%).