PRIVATE HEALTH INSURANCE (TRANSITIONAL PROVISIONS AND CONSEQUENTIAL AMENDMENTS) ACT 2007
PART 4
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TRANSITIONAL PROVISIONS RELATING TO CHAPTER 4 OF THE NEW ACT
Division 2
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Registration
SECTION 19
REGISTERED ORGANIZATIONS ESTABLISHED FOR PROFIT
(1)
An organisation that:
(a) was a registered organization immediately before the commencement time; and
(b) was at that time conducted for profit;
(2)
Subsection (1) does not prevent the organisation from ceasing to be registered as a for profit insurer after the commencement time.
An organisation that:
(a) was a registered organization immediately before the commencement time; and
(b) was at that time conducted for profit;
is taken, for the purposes of the new Act, on the commencement time to be registered as a for profit insurer.
(2)
Subsection (1) does not prevent the organisation from ceasing to be registered as a for profit insurer after the commencement time.
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