Commonwealth Consolidated Acts

PRIVATE HEALTH INSURANCE ACT 2007 - SECT 134.1

             (1)  A private health insurer must at all times have at least one * health benefits fund in respect of:

                     (a)  its * health insurance business; or

                     (b)  its health insurance business and some or all of its * health-related businesses.

             (2)  A private health insurer may have more than one * health benefits fund, but must not have more than one in respect of a particular * risk equalisation jurisdiction.

             (3)  Despite subsection (2), a private health insurer may have more than one * health benefits fund in respect of a particular * risk equalisation jurisdiction if:

                     (a)  each of those funds; or

                     (b)  each of those funds, other than one such fund which was established in connection with a restructure of funds under Division 146;

is a fund that existed at the time this Act commenced, and that, immediately before that commencement, was conducted by a registered organization (within the meaning of the National Health Act 1953 ).

             (4)  Despite subsection (2), a private health insurer may have more than one * health benefits fund in respect of a particular * risk equalisation jurisdiction in the circumstances specified in the Private Health Insurance (Health Benefits Fund Policy) Rules for the purposes of this subsection.