Document ID: chunk:federal_register_of_legislation:C2025C00173:section:19
Version: federal_register_of_legislation:C2025C00173
Segment Type: section
Provision Reference: s 19
Character Range: 33959–36113

19  Changing registration status

For profit insurer
 (1) A private health insurer that:
 (a) because of subsection (2) or otherwise, is registered as a for profit insurer; and
 (b) notifies APRA in the approved form, that it does not wish to be registered as a for profit insurer;
is taken, from the day after the day on which APRA receives the notice, not to be registered as a for profit insurer.
 (2) If:
 (a) because of subsection (1) or otherwise, a private health insurer is not registered as a for profit insurer; and
 (b) APRA approves under section 20 an application by the insurer for the insurer to convert to being registered as a for profit insurer;
the insurer is taken, from the day specified in APRA's approval, to be registered as a for profit insurer.
 (3) If a private health insurer is taken under this section to be, or not to be, registered as a for profit insurer, APRA must, as soon as practicable, given written notice of that fact to:
 (a) the Health Secretary; and
 (b) the Private Health Insurance Ombudsman; and
 (c) the Commissioner of Taxation.

Restricted access insurer
 (4) A private health insurer that:
 (a) because of subsection (5) or otherwise, is registered as a restricted access insurer; and
 (b) notifies APRA, in the approved form, that it does not wish to be registered as a restricted access insurer;
is taken, from the day after the day on which APRA receives the notice, not to be registered as a restricted access insurer.
 (5) Subject to subsection 15(3), a private health insurer that:
 (a) because of subsection (4) of this section or otherwise, is not registered as a restricted access insurer; and
 (b) notifies APRA, in the approved form, that it wishes to be registered as a restricted access insurer;
is taken, from the day after the day on which APRA receives the notice, to be registered as a restricted access insurer.
 (6) If a private health insurer is taken under this section to be, or not to be, registered as a restricted access insurer, APRA must, as soon as practicable, give written notice of that fact to:
 (a) the Health Secretary; and
 (b) the Private Health Insurance Ombudsman.