Document ID: chunk:federal_register_of_legislation:C2025C00173:section:33:p2
Version: federal_register_of_legislation:C2025C00173
Segment Type: section
Provision Reference: s 33 (pt 2/2)
Character Range: 59502–61456

in that subparagraph.

APRA rules may provide for various matters
 (5) APRA rules may provide for the following:
 (a) criteria for the approval of applications under subsection (2);
 (b) how to work out reasonable estimates of the kind referred to in paragraph (3)(a);
 (c) criteria for deciding under paragraph (3)(b) whether assets and liabilities would be fairly distributed;
 (d) requirements to notify interested persons of the outcomes of such applications;
 (e) matters connected with how arrangements take effect, including the following:
 (i) insurance policies becoming referable to a health benefits fund or funds of the transferee insurer;
 (ii) policy liabilities and other liabilities incurred for the purposes of a health benefits fund or funds of a transferor insurer becoming treated as policy liabilities and other liabilities incurred for the purposes of a health benefits fund or funds of the transferee insurer;
 (iii) assets of a health benefits fund or funds of a transferor insurer becoming assets of a health benefits fund or funds of the transferee insurer;
 (iv) the timing of arrangements;
 (f) requirements for private health insurers to give APRA information following arrangements taking effect.

Notice to be given if arrangement takes effect
 (6) The transferee insurer must, within 28 days after the arrangement takes effect, notify APRA of the arrangement. The notice must comply with any requirements specified in APRA rules made for the purpose of this subsection.

Effect of arrangement
 (7) For the purposes of this Act and the Private Health Insurance Act 2007, an insurance policy that becomes referable to a health benefits fund of the transferee insurer as a result of the arrangement is treated, after the arrangement takes effect, as if it were an insurance policy issued by the transferee insurer.

Approval is not a legislative instrument
 (8) An approval under this section is not a legislative instrument.