Private Health Insurance Act 2007

S 307-25 repealed by No 87 of 2015, s 3 and Sch 1 item 136, effective 1 July 2015. For transitional provisions, see note under s 3-15 . S 307-25 formerly read:

SECTION 307-25 WAIVER OF COLLAPSED INSURER LEVY AND LATE PAYMENT PENALTY FOR THAT LEVY  
307-25(1)
If an amount of *collapsed insurer levy or *late payment penalty in respect of an amount of collapsed insurer levy (a collapsed insurer levy amount ) is payable by a private health insurer, the insurer may apply for a waiver under this section.

307-25(2)
The application must be in writing and in the *approved form.

307-25(3)
The Minister may waive the whole or a part of the collapsed insurer levy amount if satisfied that the payment of the amount by the insurer would have a significantly adverse effect on the insurer ' s ability to comply with:
(a) the *solvency standard or a *solvency direction; or
(b) the *capital adequacy standard or a *capital adequacy direction.

Note:

Decisions under subsection (3) are reviewable under Part 6-9.

307-25(4)
Before making a decision under subsection (3), the Minister must obtain, and take into account, advice from the Council as to whether to waive the collapsed insurer levy amount.

307-25(5)
The Minister must notify the insurer of the Minister ' s decision under subsection (3).

307-25(6)
The notification must be:
(a) in writing; and
(b) given to the insurer within 28 days after the day on which the decision under subsection (3) is made.