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

Div 143 repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015. For transitional provisions, see note under s 3-15 .

S 143-15 repealed by No 87 of 2015, s 3 and Sch 1 item 65, effective 1 July 2015. For transitional provisions, see note under s 3-15 . S 143-15 formerly read:

SECTION 143-15 COMPLIANCE WITH CAPITAL ADEQUACY STANDARD  
Private health insurers to comply with capital adequacy standard

143-15(1)
Subject to subsection (2), every private health insurer must comply with the *capital adequacy standard as it applies in respect of that insurer.

Declarations that capital adequacy standard does not apply

143-15(2)
The Council may declare, by notice in writing, that the *capital adequacy standard does not apply to a particular private health insurer. The declaration may be expressed to be limited to particular specified circumstances, or to a particular specified period, or both.

Note:

Refusals to make declarations are reviewable under Part 6-9.

Conditions applying to declarations

143-15(3)
The Council may:
(a) in a declaration under subsection (2); or
(b) by a separate notice in writing;

impose conditions to be complied with by any private health insurer that is to get the benefit of the declaration.

Note:

Decisions to impose conditions are reviewable under Part 6-9.

143-15(4)
If a private health insurer fails to comply with a condition referred to in subsection (3), the declaration is taken to cease to apply to the insurer.

Revoking or varying declarations and conditions

143-15(5)
If the Council is satisfied that a declaration under subsection (2), or a condition referred to in subsection (3), is no longer required or should be varied, the Council must, by notice in writing, revoke or vary the declaration or condition accordingly.

143-15(6)
If a private health insurer requests the Council, in writing, to revoke or vary a declaration under subsection (2), or a condition referred to in subsection (3), the Council must, within 28 days after receiving the request:
(a) if the Council is satisfied that the declaration or condition is no longer necessary or should be varied - revoke or vary the declaration or condition; or
(b) in any other case - refuse to revoke or vary the declaration or condition.

Note:

Refusals to revoke or vary declarations or conditions are reviewable under Part 6-9.

143-15(7)
If the Council does not, within the 28 days referred to in subsection (6), either revoke or vary or refuse to revoke or vary the declaration or condition concerned, the Council is to be taken, for the purposes of this Act, to have refused to revoke or vary the declaration or condition at the end of that period.

Note:

Decisions that the Council is taken under this subsection to have made are reviewable under Part 6-9.

143-15(8)
The Council must give to the private health insurer written notice of a decision made under subsection (6) and, if the Council refuses to revoke or vary the declaration or condition concerned, provide a statement of reasons for so refusing.

Declarations etc. are not legislative instruments

143-15(9)
A notice under subsection (2), (3), (5) or (8) is not a legislative instrument.

References to declarations etc.

143-15(10)
A reference in this section to a declaration or condition includes a reference to a declaration or condition as varied.