Document ID: chunk:federal_register_of_legislation:F2015L01036:body:0:p11
Version: federal_register_of_legislation:F2015L01036
Segment Type: other
Provision Reference: 
Character Range: 25492–27713

governing authority, of the insurer; and

       (c)          if a person has been appointed as a receiver of the property of a private health insurer and manages, or has, under the terms of the receiver's appointment, power to manage, the affairs of the insurer – the receiver.

67.        Subsection 129 (2)
omit
from ASIC

68.        After subsection 129 (5)
insert
(5A) For a private health insurer that is not a company within the meaning of the Corporations Act, a person may assume that a document has been duly executed by the insurer if the document appears to have been signed in accordance with subsection 129A (1).

69.        After subsection 129 (6)
insert
(6A) For a private health insurer that is not a company within the meaning of the Corporations Act, a person may assume that a document has been duly executed by the insurer if:
       (a)          the common seal of the insurer appears to have been fixed to the document in accordance with subsection 129A (2); and

       (b)          the fixing of the common seal appears to have been witnessed in accordance with that subsection.

70.        After section 129
insert
                  129A Execution of documents (including deeds) by a private health insurer that is not a company

           (1) A private health insurer that is not a company within the meaning of the Corporations Act may execute a document without using a common seal if the document is signed by 2 directors or by 2 members of the management committee, or other governing body, of the insurer.
           (2) A private health insurer that is not a company within the meaning of the Corporations Act and that has a common seal, has executed a document if the seal is fixed to the document and the fixing of the seal is witnessed by 2 directors or by 2 members of the management committee, or other governing body, of the insurer.

Part 6 – Transition arrangements
Any approval, determination or other exercise of discretion by PHIAC under Private Health Insurance (Health Benefits Fund Enforcement) Rules 2007 as they existed prior to 1 July 2015 will continue to have effect following 1 July 2015 as though exercised pursuant to a corresponding power under these Rules.