Document ID: chunk:federal_register_of_legislation:F2019L00398:schedule:1:p8
Version: federal_register_of_legislation:F2019L00398
Segment Type: schedule
Provision Reference: sch 1 (pt 8/18)
Character Range: 20982–24030

takes place
       (1)     If on the restructure date:
           (a)          APRA has approved a restructure proposal of a health benefits fund conducted by a private health insurer; and

           (b)          the insurer complies with the requirements of the Rules in relation to the restructure including, without limitation, the requirements under subrules 8(2) and 8(3); and

           (c)          the insurer takes the steps required for establishment of any new fund(s) required for the restructure to come into effect;

       then:
           (d)          the restructure takes place; and

           (e)          the relevant policies of the transferring fund become referable to the receiving fund or funds in accordance with the restructure proposal; and

           (f)           the liabilities incurred for the purposes of the transferring fund, including without limitation the policy liabilities, become treated as liabilities incurred for the purposes of the receiving fund or funds in accordance with the restructure proposal; and

           (g)          the assets of the transferring fund become assets of the receiving fund or funds in accordance with the restructure proposal.

11.                  Notification to interested persons of the outcome of an application
       (1)                   If APRA or the Administrative Appeals Tribunal approves an application for approval of a restructure of a health benefits fund conducted by a private health insurer, then within 20 days of the restructure taking place, the insurer must provide to at least one adult insured under each policy, or, for a policy covering no adults, the person who pays the premium, which is being made, or has been made, referable to a receiving fund, a statement of the outcome of the application.
       (2)                   The notification of outcome referred to in subrule (1) may be combined with the statement provided for the purposes of subsection 93‑20(4) of the PHI Act.
       (3)                   If the application for approval of the restructure is refused by  APRA, then no later than 10 days after the time for the lodging of an application for review of APRA's decision by the Administrative Appeals Tribunal, the insurer must provide to at least one adult insured under each policy,  or, for a policy covering no adults, the person who pays the premium, which was proposed for transfer, a statement of:
(a)          the outcome of the application; and
(b)          whether the insurer has lodged or intends to lodge an application for review with the Administrative Appeals Tribunal.
       (4)                   If the application for approval of the restructure is refused on application to the Administrative Appeals Tribunal, then no later than 10 days after the Tribunal's decision being delivered, the insurer must provide to at least one adult insured under each policy, or, for a policy covering no adults, the person who pays the premium, which was proposed for transfer, a statement of the outcome of the