Commonwealth Numbered Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 (NO. 85, 2015) - SECT 52

             (1)  APRA must not appoint an external manager to a health benefits fund unless APRA considers that the appointment of an external manager to the fund is, in the circumstances, in the interests of the policy holders of the fund.

             (2)  In addition to subsection (1) being satisfied, APRA must not appoint an external manager to a health benefits fund unless:

                     (a)  APRA is satisfied that the private health insurer conducting the fund has contravened:

                              (i)  a prudential standard relating to capital adequacy or solvency that applies in relation to the fund; or

                             (ii)  a direction given to the insurer under section 96 that relates to the fund; or

                     (b)  a request for external management of the fund is made to APRA by a resolution of the directors of the insurer; or

                     (c)  a ground specified in APRA rules, made for the purpose of this paragraph, applies in respect of the fund.