Document ID: chunk:federal_register_of_legislation:C2015A00086:clause:1_2
Version: federal_register_of_legislation:C2015A00086
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 3248–4026

2  Section 5 (definition of collapsed insurer)
Repeal the definition, substitute:
collapsed insurer: a private health insurer is a collapsed insurer if at least one of the following paragraphs applies in relation to at least one of the insurer's health benefits funds:
 (a) APRA has approved the termination of the health benefits fund under section 37 of the Private Health Insurance (Prudential Supervision) Act 2015;
 (b) APRA has appointed an external manager of the health benefits fund under section 51 of the Private Health Insurance (Prudential Supervision) Act 2015;
 (c) the Federal Court of Australia has ordered the appointment of a terminating manager of the health benefits fund under section 67 of the Private Health Insurance (Prudential Supervision) Act 2015.