Document ID: chunk:federal_register_of_legislation:F2019L00398:schedule:1:p13
Version: federal_register_of_legislation:F2019L00398
Segment Type: schedule
Provision Reference: sch 1 (pt 13/18)
Character Range: 35236–38362

(E)         any time within the foreseeable future of operation of the funds beyond 36 months after the transfer date; and

           (e)          for each transferring fund, a statement by an officer for the transferor insurer (the certification of compliance) confirming that the board, or other governing body, of the insurer has considered the arrangement and is of the view that the arrangement meets, and the operation of the receiving fund from the transfer date in accordance with the arrangement will meet, the requirements of:

              (i)            the Act and the PHI Act; and

              (ii)         any Regulations; and

              (iii)       the Rules; and

           (f)           a report from the transferor insurer's appointed actuary (the actuary's report) which provides the opinion of the actuary:

              (i)            that the assets and liabilities that would be transferred to the receiving fund or funds represent a reasonable estimate of what would be, immediately before the arrangement takes effect:

                  (A)        if there is one transferring fund—the net asset position of the transferring fund; and

                  (B)        if there is more than one transferring fund—the sum of the net asset positions of each of the funds; and

              (ii)         that for each transferring fund to which subparagraph 33(1)(b)(i) of the Act applies, the net asset position of the fund immediately after the arrangement takes effect will not be greater than zero; and

              (iii)       about how the arrangement will affect the ability of the insurer to comply with:

                  (A)        the solvency standard; and

                  (B)        the capital adequacy standard,

              at each of the following times:

                  (C)        the transfer date; and

                  (D)        any time over the first 36 months after the transfer date; and

           (g)          a copy of the statement, if any, issued by a party to the arrangement in accordance with subsection 93‑20(2) of the PHI Act about any proposed change of the rules of the transferor private health insurer associated with the arrangement; and

           (h)          a copy of any statement issued by a party to the arrangement in accordance with subsection 93‑20(4)  of the PHI Act about the aspect of the arrangement which involves the proposed change in funds to which policies are referable; and

           (i)            a summary of any submissions in writing (including email or other electronic form) to a private health insurer party to the arrangement from a policy holder of a policy of a fund conducted by the insurer in relation to any aspect of the arrangement regardless of whether the submission was made in response to a statement issued under subsection 93‑20(2) or subsection 93‑20(4) of the PHI Act or otherwise.

       (2)                   Prior to the transfer date, each party to the arrangement must, except to the extent provided for in the Act, procure any amendment of its constitution and any of