Private Health Insurance Act 2007
A person commits an offence if: (a) the person:
(i) advertises a [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
product; or
(ii) offers a person insurance under a policy; or
(iii) insures a person under a policy; or
(b) the insurance under the policy, or under a policy in the product, is [*]
(iv) arranges for another person to do a thing mentioned in subparagraph (i) , (ii) or (iii) ; and
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
health insurance business; and (c) the policy is not a [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
complying health insurance policy; and (d) the [*]To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
health insurance business is not business of a kind specified in the Private Health Insurance (Complying Product) Rules as excluded from subsection 63-1(1) .Penalty: 1,000 penalty units or imprisonment for 5 years, or both.
View history note
Hide history note84-1(2)
In imposing a penalty on a private health insurer for an offence under subsection (1) , the court: (a) must have regard to the possible impact of a penalty on the insurer ' s capital adequacy, solvency and the level of premiums for its [*]
To find definitions of asterisked terms, see the Dictionary in Schedule 1 .
complying health insurance products; and (b) must not impose a penalty if satisfied that doing so would adversely affect the insurer ' s capital adequacy or solvency, or be likely to lead to an increase in premiums for its products.
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