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Div 149 repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015.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 .

Subdiv 149-B repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015.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S 149-20 repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015.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 149-20 formerly read:

SECTION 149-20 CONDUCT OF FUNDS DURING TERMINATION PROCESS  
149-20(1)
A private health insurer must not, after being notified under subsection 149-10(2) that termination of its *health benefits funds has been approved:
(a) enter into an insurance policy that is *referable to any of its funds with a person who is not already a *holder of such a policy; or
(b) if the insurer is *registered as a for profit insurer - apply the *assets of any of the funds except in accordance with subsection 137-10(2) (unless this paragraph has ceased to apply to the insurer because of section 149-45); or
(c) if the insurer is not registered as a for profit insurer - become registered as a for profit insurer.

149-20(2)
The insurer must, within 60 days after being notified under subsection 149-10(2) that termination of its *health benefits funds has been approved:
(a) give a written notice, stating the day (the termination day ) from which it will not renew insurance policies that are *referable to any of its funds, to:

(i) each *policy holder of any of its funds; and

(ii) the Council; and

(b) notify the termination day in a national newspaper, or in a newspaper circulating in each jurisdiction where the insurer has its registered office or carries on business.

The termination day must not be earlier than 90 days after the insurer finishes giving notices under this subsection.

149-20(3)
The insurer must not, on or after the *termination day, renew any insurance policies that are *referable to any of those funds.

149-20(4)
The insurer must accept any valid claim for benefits under an insurance policy that is or was *referable to any of those funds if the claim is made before the end of the period of 12 months following the expiry of the last policy that was referable to any of those funds.