S.I. No. 445/2006 - Health (Interest Payable on Recoverable Health Charges) Regulations 2006

STATUTORY INSTRUMENTS

S.I. No. 445 of 2006

Health (Interest Payable on Recoverable Health Charges) Regulations 2006

The Minister for Health and Children, in exercise of the powers conferred on her by section 20 of the Health (Repayment Scheme) Act 2006 , hereby makes the following regulations:

Citation.

1.        These Regulations may be cited as the Health (Interest Payable on Recoverable Health Charges) Regulations 2006.

Interpretation.

2.        In these Regulations -

“CPI number” means the All Items Consumer Price Index Number compiled by the Central Statistics Office;

“relevant period”, in relation to a recoverable health charge, means the period to which the recoverable health charge relates.

Application.

3.        These Regulations apply to paragraphs (a) and (b) of section 6(1) of the Health (Repayment Scheme) Act 2006 .

Interest payable on recoverable health charge.

4.        The interest that shall be paid on a recoverable health charge shall be calculated by reference to -

(a)        the amount of the recoverable health charge;

and

(b)        the movement in the CPI number for the relevant period using -

(i)        the survey date that relates to the beginning of the relevant period; and

(ii)       the survey date that relates to the end of the relevant period.

The Minister for Finance consents to these Regulations.

Health (Interest Payable on Recoverable Health Charges) Regulations 2006

Explanatory Memorandum

(This note is not part of the Instrument and does not purport to be a legal interpretation).

These Regulations are made under section 20 of the Health (Repayment Scheme) Act 2006 and provide for interest to be paid on recoverable health charges by reference to the consumer price index. (See the definition of “recoverable health charge” in section 2 of that Act).