Document ID: chunk:federal_register_of_legislation:C2015A00087:clause:2_8:p1
Version: federal_register_of_legislation:C2015A00087
Segment Type: clause
Provision Reference: sch 2 cl 8 (pt 1/2)
Character Range: 61220–63943

8  Terminating management and external management of health benefits funds

Approvals of termination of health benefits funds
(1) An approval that is in force under section 149‑10 of the PHI Act immediately before the transition time has effect from the transition time as if it were an approval by APRA under section 37 of the Prudential Supervision Act.

Applications for approval of termination of health benefits funds
(2) If an application made to the Council before the transition time under section 149‑1 of the PHI Act has not been decided by the transition time, the Prudential Supervision Act applies in relation to the application as if it had been made under section 35 of the Prudential Supervision Act.
(3) For the purposes of sections 36 and 38 of the Prudential Supervision Act, the application is taken to have been made at the transition time.
(4) If, before the transition time, the Council gave the applicant notice under section 149‑5 of the PHI Act requiring the provision of further information, and that information has not been provided by the transition time, the notice is taken to have been given by APRA, at the transition time, under section 36 of the Prudential Supervision Act.

Appointments of terminating managers and external managers
(5) An appointment of a terminating manager that is in force under the PHI Act immediately before the transition time has effect from the transition time as if it were:
 (a) if the appointment was made under section 149‑10 of the PHI Act—an appointment made under section 37 of the Prudential Supervision Act; or
 (b) if the appointment was made under Division 220 of the PHI Act—an appointment made under Division 7 of Part 3 of the Prudential Supervision Act.

Other things done in relation to the terminating management or external management of health benefits funds
(6) Subject to subitem (7), if a health benefits fund is under terminating management or external management immediately before the transition time, then the terminating management or external management continues after the transition time, under the Prudential Supervision Act, as if:
 (a) a thing done, by or in relation to the Council for the purposes of the terminating management or external management, under a provision of the PHI Act had been done, by or in relation to APRA, under the corresponding provision of the Prudential Supervision Act; and
 (b) a thing done, by or in relation to the terminating manager or external manager, under a provision of the PHI Act had been done, by or in relation to the terminating manager or external manager, under the corresponding provision of the Prudential Supervision Act.
(7) Rules made under item 43 may make provision for or in