Commonwealth Consolidated Acts

PRIVATE HEALTH INSURANCE ACT 2007 - SECT 293.1

             (1)  As soon as practicable after the * external management or * terminating management of a * health benefits fund begins, each * director of the * responsible insurer for the fund must:

                     (a)  deliver to the * manager all records in the director's possession that relate to the business of the fund, other than records that the director is entitled to retain as against the manager and the insurer; and

                     (b)  if the director knows of the locality of other records relating to the business of the fund--tell the manager of that locality.

             (2)  Within 7 days after the * external management or * terminating management of the fund begins, or such longer period as the * manager allows, the * directors and other * officers of the * responsible insurer for the fund must give to the manager a statement about the business, property, affairs and financial circumstances of the fund.

             (3)  The statement must comply with any requirements of the * manager as to its form and contents.

             (4)  A * director or other * officer of the * responsible insurer for the fund must:

                     (a)  attend on the * manager at such times; and

                     (b)  give the manager such information about the business, property, affairs and financial circumstances of the fund;

as the manager reasonably requires.

             (5)  A person who fails to comply with the requirements of subsection (1), (2), (3) or (4) commits an offence.

Penalty:  30 penalty units or imprisonment for 6 months, or both.