Private Health Insurance Act 2007

CHAPTER 4 - HEALTH INSURANCE BUSINESS, HEALTH BENEFITS FUNDS AND MISCELLANEOUS OBLIGATIONS OF PRIVATE HEALTH INSURERS  

PART 4-5 - MISCELLANEOUS OBLIGATIONS OF PRIVATE HEALTH INSURERS  

Division 172 - Other obligations  

SECTION 172-15  

172-15   RESTRICTIONS ON PAYMENT OF PECUNIARY PENALTIES ETC.  
A private health insurer must not:

(a)    use its money, or permit the use of its money, for:

(i) the payment of a pecuniary penalty imposed on a ^[*]

To find definitions of asterisked terms, see the Dictionary in Schedule 1 .

director or ^[*]

To find definitions of asterisked terms, see the Dictionary in Schedule 1 .

officer of the insurer because of an offence under this Act; or

(ii) the payment of an amount that a director or officer of the insurer, or a person who has been such a director or officer, is liable to pay under Division 203 ; or

(b)    reimburse:

(i) a director or officer of the insurer in respect of a pecuniary penalty imposed on the director or officer because of an offence under this Act; or

(ii) a director or officer of the insurer, or a person who has been such a director or officer, in respect of a liability imposed on the director under Division 203 .