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

Pt 4-5 heading substituted by No 87 of 2015, s 3 and Sch 1 item 66, effective 1 July 2015. For transitional provisions, see note under s 3-15 . The heading formerly read:

PART 4-5 - OTHER OBLIGATIONS OF PRIVATE HEALTH INSURERS

Div 160 repealed by No 87 of 2015, s 3 and Sch 1 item 71, effective 1 July 2015. For transitional provisions, see note under s 3-15 .

S 160-30 repealed by No 87 of 2015, s 3 and Sch 1 item 71, effective 1 July 2015. For transitional provisions, see note under s 3-15 . S 160-30 formerly read:

SECTION 160-30 ACTUARY ' S OBLIGATIONS TO REPORT  
160-30(1)
The *appointed actuary of a private health insurer must draw to the attention of the insurer, or of the *directors or an *officer of the insurer, any matter that comes to the attention of the actuary and that the actuary thinks requires action to be taken by the company or its directors to avoid a contravention of this Act.

160-30(2)
If the *appointed actuary of a private health insurer thinks:
(a) that there are reasonable grounds for believing that the insurer or a *director of the insurer may have contravened this Act or any other law; and
(b) that the contravention is of such a nature that it may affect significantly the interests of *policy holders of any *health benefits funds conducted by the insurer;

the actuary must inform the Council in writing of his or her opinion and of the information on which it is based.

160-30(3)
If:
(a) the *appointed actuary of a private health insurer has drawn to the attention of the insurer, or of the *directors or an *officer of the insurer, a matter that the actuary thinks requires action to be taken by the insurer or its directors to avoid a contravention of this Act; and
(b) the actuary is satisfied that there has been reasonable time for the taking of the action but the action has not been taken;

the actuary must inform the Council in writing of the matter.

160-30(4)
If the *appointed actuary of a private health insurer thinks that:
(a) the *directors of the insurer have failed to take such action as is reasonably necessary to enable the actuary to exercise his or her right under subsection 160-25(5) or (6); or
(b) an *officer or employee of the insurer has engaged in conduct calculated to prevent the actuary exercising his or her right under subsection 160-25(5) or (6);

the actuary may inform the Council of his or her opinion and of the information on which it is based.

160-30(5)
If:
(a) a person becomes subject to an obligation under subsection (2) or (3) to inform the Council of anything; and
(b) before the person informs the Council, the person ceases to be the *appointed actuary of the private health insurer concerned;

the person remains subject to the obligation as if he or she were still the appointed actuary of the insurer.