Document ID: chunk:federal_register_of_legislation:C2015A00087:clause:2_3
Version: federal_register_of_legislation:C2015A00087
Segment Type: clause
Provision Reference: sch 2 cl 3
Character Range: 56244–57853

3  Continuing the registration of private health insurers
(1) If, immediately before the transition time, the registration of a body is in force under Part 4‑3 of the PHI Act then, from the transition time:
 (a) the registration is taken to be a registration of the body under Division 3 of Part 2 of the Prudential Supervision Act subject to the same terms and conditions (the body's registration terms and conditions) as apply immediately before the transition time; and
 (b) the body is taken to be registered under that Division as a restricted access insurer if, immediately before the transition time, the body had that status under the PHI Act; and
 (c) the body is taken to be registered under that Division as a for profit insurer if, immediately before the transition time, the body had that status under the PHI Act.
(2) Subitem (1) has effect subject to Division 3 of Part 2 of the Prudential Supervision Act.
Note: For example, under Division 3 of Part 2 of the Prudential Supervision Act, the status of the body's registration may change, or the body's registration may be cancelled.
(3) After the transition time, the body may, in writing, request APRA to vary the body's registration terms and conditions by:
 (a) amending one or more of those terms and conditions; or
 (b) revoking one or more of those terms and conditions.
Note: A request to impose additional terms and conditions cannot be made under subitem (3).
(4) If the body makes a request under subitem (3), APRA may, by written notice to the body, vary the body's registration terms and conditions in accordance with the request.