Private Health Insurance Act 2007

Ch 4 heading substituted by No 87 of 2015, s 3 and Sch 1 item 54, effective 1 July 2015. For transitional provisions, see note under s 3-15 . The heading formerly read:

CHAPTER 4 - PRIVATE HEALTH INSURERS

Div 134 repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015. For transitional provisions, see note under s 3-15 .

S 134-1 repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015. For transitional provisions, see note under s 3-15 . S 134-1 formerly read:

SECTION 134-1 PRIVATE HEALTH INSURERS MUST HAVE HEALTH BENEFITS FUNDS  
134-1(1)
A private health insurer must at all times have at least one *health benefits fund in respect of:
(a) its *health insurance business; or
(b) its health insurance business and some or all of its *health-related businesses.

134-1(2)
A private health insurer may have more than one *health benefits fund, but must not have more than one in respect of a particular *risk equalisation jurisdiction.

134-1(3)
Despite subsection (2), a private health insurer may have more than one *health benefits fund in respect of a particular *risk equalisation jurisdiction if:
(a) each of those funds; or
(b) each of those funds, other than one such fund which was established in connection with a restructure of funds under Division 146;

is a fund that existed at the time this Act commenced, and that, immediately before that commencement, was conducted by a registered organization (within the meaning of the National Health Act 1953 ).

134-1(4)
Despite subsection (2), a private health insurer may have more than one *health benefits fund in respect of a particular *risk equalisation jurisdiction in the circumstances specified in the Private Health Insurance (Health Benefits Fund Policy) Rules for the purposes of this subsection.