Document ID: chunk:federal_register_of_legislation:F2024L01523:body:0:p9
Version: federal_register_of_legislation:F2024L01523
Segment Type: other
Provision Reference: 
Character Range: 23279–26444

Common Equity Tier 1 Capital;
         3.           the amount of Additional Tier 1 Capital;
         4.           the aggregate amount of any regulatory adjustments applied in the calculation of Additional Tier 1 Capital;
         5.           the amount of Tier 2 Capital;
         6.            the aggregate amount of any regulatory adjustments applied in the calculation of Tier 2 Capital;
         7.           the total capital base of the private health insurer derived from the items (a) to (f);
         8.           the prescribed capital amount; and
         9.             the capital adequacy multiple (item (g) divided by item (h)).
 2.          A private health insurer must also publish, at least annually, the following items for each of its funds:
         1.           the amount of the fund's 'net assets', after applying any regulatory adjustments;
         2.           the aggregate amount of any regulatory adjustments applied to the fund's net assets;
         3.           the amount of Tier 2 Capital held by the fund;
         4.           the aggregate amount of any regulatory adjustments applied in the calculation of the fund's Tier 2 Capital;
         5.           the total capital base of the fund derived from the items (a) to (d);
         6.            the fund's prescribed capital amount;
         7.           the components of the fund's prescribed capital amount[3] specified in paragraph 26; and
         8.           the capital adequacy multiple of the fund (item (e) divided by item (f)).
 3.          A private health insurer must publish the information specified in paragraphs 42 and 43 so that it is readily accessible to both policy holders and other market participants.
 4.          A private health insurer must not disclose any supervisory adjustment determined by APRA in accordance with paragraph 41.

Reductions in capital base
 1.          A private health insurer must obtain APRA's written approval prior to making any planned reduction in its capital base.
 2.          A reduction in a private health insurer's capital base includes:
         1.           a share buyback or the redemption, repurchase or repayment of any qualifying Common Equity Tier 1 Capital, Additional Tier 1 Capital and Tier 2 Capital instruments issued by the company;
         2.           trading in the private health insurer's own shares or capital instruments outside of any arrangement agreed upon with APRA in accordance with HPS 112; and
         3.           the aggregate amount of dividend payments on ordinary shares that exceeds a private health insurer's after-tax earnings (as reported to APRA in the private health insurer's statutory accounts) after taking into account any payments on more senior capital instruments, in the financial year[4] to which they relate.
 3.          A private health insurer proposing a capital reduction must provide APRA with a forecast showing the projected future capital position (including PCR) after the proposed capital reductions. The forecast should extend for at least two years.
 4.          A private health insurer must satisfy APRA that its capital base will remain