Document ID: chunk:federal_register_of_legislation:F2015L01036:body:0:p10
Version: federal_register_of_legislation:F2015L01036
Segment Type: other
Provision Reference: 
Character Range: 23032–25740

to the administrator of the deed.

55.        Subsection 447E (3)
omit
ASIC
insert
APRA

56.        Subsection 450A (1)
omit
436A, 436B or 436C
insert
51 of the Private Health Insurance (Prudential Supervision) Act 2015

57.        Subsection 450A (2)
omit the subsection
substitute
(2) As soon as practicable, and in any event before the end of the next business day, after appointing an external manager under section 51 of the Private Health Insurance (Prudential Supervision) Act 2015, APRA must give written notice of the appointment to the responsible insurer.

58.        Subsection 450A (3)
omit
436A, 436B or 436C
insert
51 of the Private Health Insurance (Prudential Supervision) Act 2015

59.        Subsection 450A (4)
omit the subsection

60.        Paragraph 450C (b)
omit
of the company's creditors
insert
policy holder
Despite subsection 50 (4) of the Act, a reference in section 450C of the Corporations Act to 'the company' is not to be taken as a reference to 'the fund'.

61.        Subsection 568 (1)
Despite subsection 50 (4) of the Act, the second reference in subsection 568 (1) of the Corporations Act to 'the company' is not to be taken as a reference to 'the fund'.

62.        Paragraph 568 (1) (h)
Despite subsection 50 (4) of the Act, the reference in paragraph 568 (1) (h) of the Corporations Act to 'the company' is not to be taken as a reference to 'the fund'.

63.        Subsections 568 (1AA) and 568 (9)
Despite subsection 50 (4) of the Act, references in subsection 568 (1AA) and subsection 568 (9) of the Corporations Act to 'the company' are not to be taken as references to 'the fund'.

64.        Subsection 568D (1)
Despite subsection 50 (4) of the Act, the reference in subsection 568D (1) of the Corporations Act to 'the company' is not to be taken as a reference to 'the fund'.

Part 5 – Modifications of sections 128 and 129

65.        Modifications for subsection 55 (2) of the Act
For subsection 55 (2) of the Act, the applied Corporations Act provisions mentioned in this Part are modified as set out in this Part.

66.        Sections 128 and 129
In sections 128 and 129 of the Corporations Act:
company means a private health insurer.
officer includes:
       (a)          for a private health insurer that is a company within the meaning of the Corporations Act – a director of the company; and

       (b)          for any other private health insurer – a member of the committee of management, or other governing authority, of the insurer; and

       (c)          if a person has been appointed as a receiver of the property of a private health insurer and manages, or has, under the terms of the receiver's appointment, power to manage, the affairs