Commonwealth Numbered Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 (NO. 85, 2015) - SECT 77

Remuneration and allowances of terminating managers appointed under Division 7

             (1)  APRA may, in writing, determine the remuneration and allowances that a terminating manager appointed under Division 7 is to receive. However, APRA cannot make such a determination if an order of the Federal Court under section 67 determines the manager's remuneration and allowances.

Source of funds for payment of remuneration and allowances of external managers and terminating managers

             (2)  Subject to any order made by the Federal Court under section 67, and to any determination made by APRA under subsection (3) of this section, the remuneration and allowances of an external manager or terminating manager are to be paid out of the assets of the health benefits fund under external management or terminating management.

             (3)  APRA may, in writing, determine that a particular person is to pay the remuneration and allowances of an external manager or terminating manager. However APRA cannot make such a determination for a terminating manager appointed under Division 7 if an order of the Federal Court under section 67 determines who is to pay the remuneration and allowances.