Commonwealth Numbered Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 (NO. 85, 2015) - SECT 51

             (1)  APRA may, in writing, appoint a person as the external manager of a health benefits fund if the requirements of subsections 52(1) and (2) are satisfied.

             (2)  However, the person:

                     (a)  must be registered, or taken to be registered, as an official liquidator under the Corporations Act 2001 ; and

                     (b)  must not be a person who is:

                              (i)  a policy holder of the fund; or

                             (ii)  an appointed actuary of the fund; or

                            (iii)  an auditor of the fund; or

                            (iv)  a chargee of property of the fund; or

                             (v)  an officer of a body corporate that is a chargee of property of the fund; or

                            (vi)  a person who is otherwise related to the fund.

             (3)  The appointment takes effect from the day specified in the instrument of appointment.