Private Health Insurance Act 2007

CHAPTER 6 - ADMINISTRATION  

PART 6-6 - PRIVATE HEALTH INSURANCE LEVIES  

Division 310 - Returns, requesting information and keeping records: private health insurers  

SECTION 310-5   INSURER MUST KEEP RECORDS  

310-5(1)    
A private health insurer must keep all records that are relevant to either or both of following:

(a)    whether the insurer is liable to pay a ^[*]

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

private health insurance levy;

(b)    the amount of the private health insurance levy that the insurer is liable to pay.

310-5(2)    
The records must be kept in:

(a)    an electronic form; or

(b)    another form approved by:

(i) the Secretary of the Department, if the records relate to ^[*]

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

complaints levy; or

(ii) ^[*]

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

APRA, if the records relate to ^[*]

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

risk equalisation levy.

310-5(3)    
The records must be retained for a period of 7 years (or a shorter period allowed by the Private Health Insurance (Levy Administration) Rules) starting on the later of:

(a)    the day on which the records were created; or

(b)    1 July 2004.

310-5(4)    
A private health insurer commits an offence if the insurer fails to:

(a)    keep the records; or

(b)    keep the records in the form required by or under subsection (2) ; or

(c)    retain the records for the period required by or under subsection (3) .

Penalty: 60 penalty units.

310-5(5)    
Strict liability applies to subsection (4) .

Note:

For strict liability , see section 6.1 of the Criminal Code .

310-5(6)    
Nothing in this section is to be taken to have required an insurer to do an act or thing before the day on which this Act commences.