Document ID: chunk:federal_register_of_legislation:F2015L01036:body:0:p6
Version: federal_register_of_legislation:F2015L01036
Segment Type: other
Provision Reference: 
Character Range: 12922–15703

provision applies as if a reference to the specified term were a reference to the term as modified by rule 12.

12.        Specified terms
(1)   The following terms are modified as set out in this rule:
(a)          board of the company, in relation to a responsible insurer, is modified to mean, as the case may be for a particular insurer:

(i)                     the board of directors; or

(ii)                   committee of management; or

(iii)                 other governing body; and

(b)          company is modified to mean the responsible insurer; and

(c)          company secretary is modified to mean in relation to a responsible insurer that is not a company within the meaning of the Corporations Act, the secretary of the insurer or person who carries out the role similar to a company secretary; and

(d)          creditor, in relation to a fund, is modified to include a policy holder of the fund; and

(e)          director or director of a company or of a fund, for a responsible insurer that is not a company within the meaning of the Corporations Act, is modified to include a member of the committee of management, or other governing body, of the insurer; and

(f)           deed of company arrangement is modified to mean a voluntary deed of arrangement agreed on at a meeting convened under the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2015; and

(g)          lodge is modified to include that the document to be lodged must be lodged at the same time with APRA; and

(h)          officer is modified to mean an 'officer' within the meaning of that word in the Private Health Insurance (Prudential Supervision) Act 2015; and

(i)            resolution, in relation to creditors and policy holders, is modified to mean a resolution agreed on at a meeting convened under the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2015.

(2)   References in an applied Corporations Act provision to Parts or Divisions of the Corporations Act are taken to also include a reference to the Private Health Insurance (Prudential Supervision) Act 2015 and the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2015.

Part 4 – Modifications of Part 5.3A and Division 7A of Part 5.6

13.        Modifications for subparagraph 50 (1) (b) (ii) of the Act
For subparagraph 50 (1) (b) (ii) of the Act, the applied Corporations Act provisions mentioned in this Part are modified as set out in this Part.

14.        Subsection 440D (1)
Despite subsection 50 (4) of the Act, the reference in subsection 440D (1) of the Corporations Act to 'the company' is not to be taken as a reference to 'the fund'.
Note: Subsection 56 (2) of the Act provides for the matters to which the external manager or the Court