Document ID: chunk:federal_register_of_legislation:F2024L01525:body:0:p47
Version: federal_register_of_legislation:F2024L01525
Segment Type: other
Provision Reference: 
Character Range: 126186–127537

health insurer. Where an unlisted private health insurer issues the instrument to its listed parent entity, conversion may be into unlisted ordinary shares of the private health insurer.
[41]  Reference to private health insurer in this context captures any entity whose ordinary shares are issued as a result of conversion provisions.
[42]  For an unlisted private health insurer that has no listed parent entity at the time of issue, the ordinary share price is based on the book value per share at the time of issue.
[43]  For example, by way of a scheme of arrangement.
[44]  For an unlisted private health insurer with no listed upstream entity at the time the instrument is issued, the instrument is to be converted into unlisted ordinary shares of the health insurer. Where an unlisted private health insurer issues the instrument to its listed parent entity, conversion may be into unlisted ordinary shares of the private health insurer.
[45]  Requirements may be applied by the home regulator or under statute.
[46]  Such a declaration would typically be provided, as appropriate, by APRA or another regulator or by way of statutory provisions.
[47]       'Financial year' means a period of 12 consecutive months covered by one or more sets of publicly available operating results preceding the date of the proposed payments of distributions.