Commonwealth Numbered Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 (NO. 85, 2015) - SECT 93

             (1)  A prudential standard referred to in paragraph 92(3)(c), or an instrument varying or revoking such a standard, has effect:

                     (a)  from the day on which the standard or instrument is made; or

                     (b)  if the standard or instrument specifies a later day--from that later day.

             (2)  If APRA makes, varies or revokes a prudential standard referred to in paragraph 92(3)(c), it must, as soon as practicable:

                     (a)  in the case of making a standard--give a copy of the standard to each private health insurer to which the standard applies; or

                     (b)  in the case of varying a standard--give a copy of the variation to:

                              (i)  each private health insurer to which the standard (as in force before the variation) applied; and

                             (ii)  any other private health insurer to which the standard will (because of the variation) apply; or

                     (c)  in the case of revoking a standard--give notice of the revocation to each private health insurer to which the standard (as in force before the revocation) applied.