Document ID: chunk:federal_register_of_legislation:F2019L00398:schedule:1:p12
Version: federal_register_of_legislation:F2019L00398
Segment Type: schedule
Provision Reference: sch 1 (pt 12/18)
Character Range: 32167–35515

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 service providers and other service providers; and

              (vii)     summary of any proposed changes to benefits and premiums; and

           (c)          for each receiving fund, a statement by an officer for the transferee 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 made under the Act and the PHI Act; and

           (d)          for each receiving fund, a report from the transferee insurer's appointed actuary (the actuary's report) which provides the opinion of the actuary:

              (i)            that the aspects of the Business Plan which provide the information required in paragraph (b) are well‑founded; and

              (ii)         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 funds; and

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

              (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,

              in relation to each of the relevant funds of the insurer at each of the following times:

                  (C)        the transfer date; and

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

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

              (iv)        about what effects the arrangement is likely to have on the premiums for, and benefits under:

                  (A)        each policy group of the policies which are referable to the transferring fund immediately before the restructure; and

                  (B)        each policy group of the policies which are referable to a receiving fund immediately before the restructure,

              at each of the following times:

                  (C)        the transfer date; and

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

                  (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