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Private Health Insurance (Prudential Supervision) Rules 2019

I, Pat Brennan, a delegate of APRA under subsection 174(1) of the Private Health Insurance (Prudential Supervision) Act 2015 revoke Private Health Insurance (Prudential Supervision) Rules 2016 and make Private Health Insurance (Prudential Supervision) Rules 2019.

These Rules commence on the day after they are registered on the Federal Register of Legislation.

Dated: 12 March 2019

[Signed]

Pat Brennan

Delegate

Contents

Part 1 – Preliminary
1. Name of Rules
2. Revocation 4
3. Commencement
4. Definitions
Part 2 – Expenditure and application of health benefits funds
5. Mortgages and charges
6. Borrowings
6A Donating to medical research is a permitted purpose. 7
Part 3 – Restructure of health benefits funds
7. Restructure under section 32 of the Act
8. Requirements in relation to a restructure
9. Criteria for approving or refusing a restructure
10. How a restructure takes place
11. Notification to interested persons of the outcome of an application
Part 4 – Merger and acquisition of health benefits funds
11A Interpretation
12. Merger and acquisition under section 33 of the Act
13. Requirements in relation to a merger or acquisition
14. Criteria for approving or refusing a merger or acquisition
14A Additional criteria for approving or refusing a merger or acquisition
15. How a merger or acquisition takes effect
16. Notification to interested persons of outcome of a section
33 application
Part 5 - Private health insurers to notify APRA about certain matters
17. Notification of current chief executive officer
17A Notification of changes in board membership or name and contact details of a director
17B Copies of reports to APRA
Part 6 – Publication of membership information
18. Publication of membership information

Part 7 - Transition arrangements         27

 19. Transition arrangements       27