Document ID: chunk:federal_register_of_legislation:F2019L00398:schedule:1:p4
Version: federal_register_of_legislation:F2019L00398
Segment Type: schedule
Provision Reference: sch 1 (pt 4/18)
Character Range: 9918–13067

and
           (d)          identifying which policy group or groups of the transferring fund are to become referable to the receiving fund(s) on the restructure date; and
           (e)          stating the risk equalisation jurisdiction or jurisdictions for each receiving fund and other funds of the insurer; and
           (f)           stating for each receiving fund whether the fund is existing or proposed; and
           (g)          if the restructure involves more than one receiving fund, specifying which  policy group or groups are to become referable to which of the receiving funds on the restructure date; and
           (h)          if the restructure would result in the insurer having more than one health benefits fund in respect of a particular risk equalisation jurisdiction, explaining how that result would be consistent with section 23 of the Act; and
           (i)            specifying which of the liabilities incurred for the purposes of the transferring fund, including policy liabilities, are to become treated as incurred for the purposes of a receiving fund on the restructure date; and
           Note: The specification which is sufficient for this rule is stated in subrule (3).
           (j)            specifying which of the assets of the transferring fund are to become assets of a receiving fund on the restructure date; and
           Note: The specification which is sufficient for this rule is stated in subrule (3).
           (k)          explaining why the assets and liabilities which are to be transferred under the restructure represent a reasonable estimate within the meaning of paragraph 32(2)(a) of the Act of what would, immediately before the restructure, be the net asset position of the transferring fund; and
           (l)            if there is more than one receiving fund, explaining why the distribution of assets and liabilities between the restructuring funds is fairly distributed within the meaning of  paragraph 32(2)(b) of the Act; and
           (m)        if it is proposed that some assets of the transferring fund will not become assets of a receiving fund, identifying the assets and stating why those assets are not to become assets of a receiving fund; and
           (n)          if it is proposed that some liabilities incurred for the purposes of the transferring fund are not to become treated as incurred for the purposes of a receiving fund, identifying the liabilities and stating why those liabilities are not to become treated as incurred for the purposes of a receiving fund; and
           (o)          explaining how the restructure will be consistent with:
              (i)            the solvency standard; and
              (ii)         the capital adequacy standard.
   (3)   The specifications required by subrule (2) may be:
           (p)          by listing particular assets or liabilities; or
           (q)          by reference to categories of assets or liabilities; or
           (r)           by a combination of (a) and (b).
8.                      Requirements in relation to a restructure
       (1)          A private health insurer must