Document ID: chunk:federal_register_of_legislation:C2025C00173:section:110:p2
Version: federal_register_of_legislation:C2025C00173
Segment Type: section
Provision Reference: s 110 (pt 2/2)
Character Range: 142581–143753

a court to impose a fine of up to 5 times the penalty stated above.
 (5) If:
 (a) the appointed actuary of a private health insurer has drawn to the attention of the insurer, or of an officer of the insurer, a matter that the actuary considers requires action to be taken by the insurer or its directors:
 (i) to avoid a contravention of this Act, the Private Health Insurance Act 2007, the Financial Sector (Collection of Data) Act 2001 or the Financial Accountability Regime Act 2023; or
 (ii) to avoid prejudice to policy holders of a health benefits fund conducted by the insurer; and
 (b) the appointed actuary is satisfied that there has been reasonable time for the taking of the action but the action has not been taken;
the appointed actuary must inform APRA in writing of the matter referred to in paragraph (a).
 (6) If:
 (a) a person becomes subject to an obligation under subsection (2) or (5) to inform APRA of anything; and
 (b) before the person informs APRA, the person ceases to be the appointed actuary of the private health insurer concerned;
the person remains subject to the obligation as if he or she were still the appointed actuary of the insurer.