Document ID: chunk:federal_register_of_legislation:F2019L00398:schedule:1:p11
Version: federal_register_of_legislation:F2019L00398
Segment Type: schedule
Provision Reference: sch 1 (pt 11/18)
Character Range: 29274–32452

the business records of the transferring fund as the transferee insurer may require to act as private health insurer for the transferred policies.

       (4)                   The specifications required by subrule (3) may be:
           (a)          by listing particular assets or liabilities; or

           (b)          by reference to categories of assets or liabilities; or

           (c)          by a combination of (a) and (b).

       (5)                   If the proposed transfer of policies involves any form of financial benefit to any person, the arrangement must state the details of the financial benefit, whether or not the person to benefit is a party to the arrangement.
       (6)                   If the proposed transfer of policies involves the transfer of policies referable to the health benefits fund of a not‑for‑profit insurer to the health benefits fund of a for profit insurer, and the transferor insurer has, or will have if the application is approved, any interest in the transferee insurer, the application for approval must provide a statement by an appropriately qualified person, independent of the insurers involved, certifying as to what would be the market value if the transfer involved the sale of the transferor insurer's health insurance business.
       (7)                   In subrule (6), health insurance business means the assets and liabilities proposed to be transferred under the arrangement referred to in subrule (2).
13.                  Requirements in relation to a merger or acquisition
       (1)                   The parties to an arrangement must submit to APRA with an application for approval of the arrangement:
           (a)          a copy of the arrangement;

           (b)          a business plan (the Business Plan) for each receiving fund covering the period of the first 36 months of operation from the transfer date including the following:

              (i)            a statement of the liabilities incurred for the purposes of, and assets of, the fund at the transfer date; and

              (ii)         a budget statement for the fund for each month of the period of the Business Plan, setting out in detail:

                  (A)        the projected income and expenditure for the fund; and

                  (B)        the projected assets and liabilities at the end of each month; and

                  (C)        the projected solvency and capital adequacy position of the fund at the end of each month; and

              (iii)       the ratio that the projected amount of the management and administrative expenses in respect of the conduct of the fund bears to the estimated amount of premiums paid to that fund; and

              (iv)        summary of proposed changes, if any, to the insurer's marketing plan including strategies and costs associated with the implementation of the arrangement and promotion of the fund; and

              (v)          the estimated number of policy holders of the fund at the end of each month; and

              (vi)        summary of any proposed changes to the insurer's contractual procedures and arrangements with health