Private Health Insurance (Prudential Supervision) Rules 2019 (Cth)

Private Health Insurance (Prudential Supervision) Rules 2019

I, Pat Brennan, a delegate of APRA under subsection 174(1) of the Private Health Insurance (Prudential Supervision) Act 2015 revoke Private Health Insurance (Prudential Supervision) Rules 2016 and make Private Health Insurance (Prudential Supervision) Rules 2019.

These Rules commence on the day after they are registered on the Federal Register of Legislation.

Dated: 12 March 2019

[Signed]

Pat Brennan

Delegate

Contents

Part 1 – Preliminary 1. Name of Rules 2. Revocation 4 3. Commencement 4. Definitions Part 2 – Expenditure and application of health benefits funds 5. Mortgages and charges 6. Borrowings 6A Donating to medical research is a permitted purpose. 7 Part 3 – Restructure of health benefits funds 7. Restructure under section 32 of the Act 8. Requirements in relation to a restructure 9. Criteria for approving or refusing a restructure 10. How a restructure takes place 11. Notification to interested persons of the outcome of an application Part 4 – Merger and acquisition of health benefits funds 11A Interpretation 12. Merger and acquisition under section 33 of the Act 13. Requirements in relation to a merger or acquisition 14. Criteria for approving or refusing a merger or acquisition 14A Additional criteria for approving or refusing a merger or acquisition 15. How a merger or acquisition takes effect 16. Notification to interested persons of outcome of a section 33 application Part 5 - Private health insurers to notify APRA about certain matters 17. Notification of current chief executive officer 17A Notification of changes in board membership or name and contact details of a director 17B Copies of reports to APRA Part 6 – Publication of membership information 18. Publication of membership information

Part 7 - Transition arrangements 27