Medibank Private sale bill 2006
The Government has introduced legislation to prepare for the sale of Medibank Private Limited. It says there is no sound policy reason, nor market failure reason, for the Commonwealth to continue to own a health insurance business.
For the Commonwealth to achieve the sale objectives, it is necessary for Medibank Private Limited, which is currently conducted on a “not for profit” basis, to convert so that it can be conducted on a “for profit” basis.
The Bill also sets out a range of provisions relating to the conduct of the sale, including restrictions to ensure that, for a period of five years following the sale, Medibank Private Limited remains an Australian company and that neither it nor, if there is a holding company, the holding company, is broken up.
![Dandenong Mayor [left] stands next to aged care resident and aged care staff member](https://agedcareguide-assets.imgix.net/news/articles/wp/belv__2204.jpg?fm=pjpg&w=370)
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