PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015
Table of Provisions
PART 1--INTRODUCTION
Division 1--Preliminary
- 1 Short title
- 2 Commencement
- 3 Simplified outline of this Act
- 4 Interpretation
- 5 General administration of Act
- 5A Norfolk Island
Division 2--Constitutional matters
- 6 Act binds the Crown
- 7 Act not to apply to State insurance within that State
- 8 Compensation for acquisition of property
PART 2--REGISTRATION--OF PRIVATE HEALTH INSURERS
Division 1--Introduction
- 9 Simplified outline of this Part
Division 2--Prohibition of carrying on health insurance business without registration
Division 3--Registration
- 12 Applying for registration
- 13 Requiring further information
- 14 Criteria for registration
- 15 Deciding the application
- 16 Notifying the decision
- 17 APRA can be taken to refuse application
- 18 APRA to ensure that up - to - date record of information about private health insurers is publicly available
- 19 Changing registration status
- 20 Conversion to for profit status
- 21 Cancellation of registration
PART 3--HEALTH--BENEFITS FUNDS
Division 1--Introduction
- 22 Simplified outline of this Part
Division 2--The requirement to have health benefits funds
- 23 Private health insurers must have health benefits funds
- 24 Notifying APRA when health benefits funds are established
- 25 Inclusion of health - related businesses in health benefits funds
Division 3--The operation of health benefits funds
- 26 Assets of health benefits funds
- 27 Payments to health benefits funds
- 28 Expenditure and application of health benefits funds
- 29 Effect of non - compliance with section 28
- 30 Investment of health benefits funds
Division 4--Restructure, merger and acquisition of health benefits funds
- 31 Restriction on restructure, merger or acquisition of health benefits funds
- 32 Restructure of health benefits funds
- 33 Merger and acquisition of health benefits funds
- 34 Consent of policy holders not required
Division 5--Termination of health benefits funds
Subdivision A--Approving the termination of health benefits funds- 35 Applying for termination
- 36 Requiring further information
- 37 Deciding the application
- 38 APRA can be taken to have refused to approve termination Subdivision B--Conducting the termination of health benefits funds
- 39 The basis of the law relating to termination
- 40 Conduct of funds during termination process
- 41 Insurers etc. to give reports to APRA
- 42 Terminating managers displace management of funds Subdivision C--Ending the termination of health benefits funds
- 43 Power to end termination Subdivision D--Completing the termination of health benefits funds
- 44 Completion of the termination process
- 45 Distribution of remaining assets after completion of the termination process
- 46 Liability of officers of insurers for loss to terminated funds
- 47 Reporting by terminating manager
- 48 Applying for winding up
Division 6--External management of health benefits funds
Subdivision A--Preliminary- 49 Purpose of Division
- 50 The basis of the law relating to external management Subdivision B--Appointment of external managers
- 51 APRA may appoint external managers
- 52 Preconditions for appointment of external managers
- 53 External managers to displace management of funds Subdivision C--Duties and powers of external managers
- 54 Duties of external managers
- 55 Additional powers of external managers
- 56 Protection of property during external management
- 57 Rights of chargee, owner or lessor of property of fund under external management Subdivision D--Procedure relating to voluntary deeds of arrangement
- 58 Matters that may be included in APRA rules Subdivision E--External managers' reports to APRA
- 59 External managers to give reports to APRA
- 60 Dealing with reports given to APRA
- 61 Federal Court orders in respect of schemes of arrangement Subdivision F--Miscellaneous
- 62 When an external management begins and ends
- 63 Effect of things done during external management of health benefits funds
- 64 Disclaimer of onerous property
- 65 Application of provisions of Corporations Act
Division 7--Ordering the termination of health benefits funds
- 66 Applications by external managers to the Federal Court
- 67 Orders made on applications for appointments of terminating managers
- 68 Notice of appointments
- 69 Application of other provisions if Federal Court orders appointment of a terminating manager
Division 8--External managers and terminating managers
Subdivision A--Powers of managers- 70 Powers of managers
- 71 Officers etc. not to perform functions etc. while fund is under management
- 72 Managers act as agents of private health insurers Subdivision B--Information concerning, and records and property of, health benefits funds
- 73 Directors etc. to help managers
- 74 Managers' rights to certain records
- 75 Only manager can deal with property of fund under management
- 76 Order for compensation where officer involved in void transaction Subdivision C--Provisions incidental to appointment of managers
- 77 Remuneration and allowances of managers
- 78 Directions to managers
- 79 Termination of appointments of managers
- 80 Acts of managers valid etc.
- 81 Indemnity
- 82 Qualified privilege Subdivision D--Miscellaneous
- 83 Time for doing act does not run while act prevented by this Division or other provisions
- 84 Continued application of other provisions of Act
- 85 Modifications of this Act in relation to health benefits funds under management
- 86 Order of Federal Court to be binding on all persons
- 87 APRA rules dealing with various matters
Division 9--Duties and liabilities of directors etc.
- 88 Notices to remedy contraventions
- 89 Liability of directors in relation to non - compliance with notices
- 90 APRA may sue in the name of private health insurers
PART 4--PRUDENTIAL--STANDARDS AND DIRECTIONS
Division 1--Introduction
- 91 Simplified outline of this Part
Division 2--Prudential standards
- 92 Prudential standards
- 93 Additional matters in relation to standards that are not legislative instruments
- 94 Compliance with prudential standards
- 95 Notice of contravention of prudential standards or of other matters that materially affect financial position
Division 3--Directions
- 96 APRA's power to give directions
- 97 The kinds of direction that may be given
- 98 Power to comply with a direction
- 99 Varying or revoking a direction
- 100 When a direction ceases to have effect
- 101 Direction not grounds for denial of obligations
- 102 Supply of information about directions
- 103 Secrecy requirements
- 104 Non - compliance with a direction
PART 5--OTHER--OBLIGATIONS OF PRIVATE HEALTH INSURERS
Division 1--Introduction
- 105 Simplified outline of this Part
Division 2--Appointed actuaries
- 106 Appointment
- 107 Terminating an appointment as actuary
- 108 Notification of appointment etc.
- 109 Role of appointed actuary
- 110 Actuary's obligations to inform of matters etc.
- 111 Appointed actuary may give information or documents to APRA
- 112 Duty of appointed actuary to give information or documents when required
- 113 Qualified privilege of appointed actuary
- 114 Referring matters to professional associations for actuaries
- 115 APRA may direct removal of actuary
Division 3--Disqualified persons
- 116 Private health insurers not to allow disqualified persons to act as officers or appointed actuaries
- 117 Disqualified persons must not act for private health insurers
- 118 Effect of non - compliance
- 119 Who is a disqualified person ?
- 120 Court power of disqualification
- 121 Court power to revoke or vary a disqualification etc.
- 122 Privilege against exposure to penalty--disqualification under section 120
Division 4--Miscellaneous
- 123 Restrictions on payment of pecuniary penalties etc.
- 124 Giving APRA copies of reports made to policy holders
- 125 Notifying APRA of name and contact details of officers
PART 6--MONITORING--AND INVESTIGATION
Division 1--Introduction
- 126 Simplified outline of this Part
Division 2--Monitoring
- 127 Purposes for which powers may be exercised etc.
- 128 Power to require private health insurer to provide information and reports
- 129 Power to require production of documents
Division 3--Investigation
- 130 Investigation of private health insurers by inspectors
- 131 Identity cards for inspectors
- 132 Powers of inspectors
- 133 Person may be represented by lawyer when being examined
- 134 Access to premises
- 135 General provisions relating to obtaining consent to enter premises
- 136 Investigation warrants
- 137 Announcement before entry under investigation warrant
- 138 Inspector to be in possession of investigation warrant
- 139 Details of warrant etc. to be given to occupier
- 140 Right to observe execution of warrant
- 141 Responsibility to provide facilities and assistance
- 142 Concealing etc. documents
- 143 Reports of inspectors
- 144 Dissemination of reports
- 145 Liability for publishing reports etc.
- 146 Powers of magistrates
- 147 Delegation by inspectors
Division 4--Other matters
- 148 Refusing or failing to comply with requirements
- 149 Self - incrimination
- 150 Protection from liability
PART 7--ENFORCEABLE--UNDERTAKINGS
PART 8--REMEDIES--IN THE FEDERAL COURT
- 153 Simplified outline of this Part
- 154 APRA may apply to the Federal Court
- 155 Declarations of contravention
- 156 Civil penalty order
- 157 Compensation order
- 158 Other order
- 159 Civil evidence and procedure rules for declarations and orders
- 160 Civil proceedings after criminal proceedings
- 161 Criminal proceedings during civil proceedings
- 162 Criminal proceedings after civil proceedings
- 163 Evidence given in proceedings for penalty not admissible in criminal proceedings
- 164 APRA may require person to assist
PART 9--MISCELLANEOUS
- 165 Simplified outline of this Part
- 166 Relief from liability
- 167 Annual publication of information relating to health benefits funds
- 168 Review of decisions
- 169 Statements to accompany notification of decisions
- 170 Approvals, determinations etc. by APRA
- 171 Powers of Federal Court
- 172 Approved forms, and giving documents not required to be in approved forms
- 173 Delegation by Minister
- 174 APRA rules