S 126-45 repealed by No 87 of 2015, s 3 and Sch 1 item 60, effective 1 July 2015. For transitional provisions, see note under s
3-15
. S 126-45 formerly read:
SECTION 126-45 CANCELLATION OF REGISTRATION
126-45(1)
The Council must cancel the registration of a private health insurer if:
(a)
the insurer has not conducted *health insurance business during the preceding 12 months; or
(b)
the insurer
'
s *health benefits funds have been terminated under Division 149; or
(c)
on or after 1 January 2010, the insurer is not a company within the meaning of the
Corporations Act 2001
.
History
S 126-45(1) amended by No 54 of 2008, s 3 and Sch 3 item 2, by inserting para (c), effective 25 June 2008. No 54 of 2008, s 3 and Sch 3 items 3 and 4 contain the following transitional provisions:
3 Applications for registration for which decisions are pending
3
An application made before the commencement of this item for registration as a private health insurer is taken, on that commencement, not to be a valid application under section
126-10
of the
Private Health Insurance Act 2007
if, as at that commencement:
(a)
the applicant was not a company within the meaning of the
Corporations Act 2001
; and
(b)
the Council had not decided the application under section
126-20
of the
Private Health Insurance Act 2007
.
4 Exemption from stamp duty etc. relating to certain private health insurers becoming companies
(1)
Stamp duty, or any other tax, imposed under a law of a State or Territory is not payable in relation to a thing done (including, for example, a transaction entered into or an instrument or document made, executed, lodged or given) for the purpose of, because of or as a result of the registration of a body as a company if:
(a)
the thing is done after the commencement of this item and before 1 January 2010; and
(b)
at the time the thing is done, the body is a private health insurer; and
(c)
the registration as a company is solely for the purpose of avoiding the body
'
s registration as a private health insurer being cancelled under paragraph
126-45(1)(c)
of the
Private Health Insurance Act 2007
.
(2)
In this item:
company
means a company within the meaning of the
Corporations Act 2001
.
private health insurer
means a person registered under Part
4-3
of the
Private Health Insurance Act 2007
, and includes a body that is taken to be a private health insurer because of section
18
of the
Private Health Insurance (Transitional Provisions and Consequential Amendments) Act 2007
.
126-45(2)
The Council must:
(a)
notify the insurer in writing of the cancellation; and
(b)
within 7 days after the cancellation, notify the Secretary in writing of the cancellation; and
(c)
within one month after the cancellation, publish in the
Gazette
a notification of the cancellation.
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