Transition

1. From 1 July 2023, the ICAAP requirements in paragraphs 8 to 16 apply to
   1. SFIs; and
   2. any private health insurer that is a non-SFI but APRA has determined in writing for prudential reasons, the ICAAP requirements in paragraphs 8 to 16 should apply to it.
2. For all private health insurers that are non-SFIs and are not subject to an APRA determination under paragraph 53(b), the ICAAP requirements in paragraphs 8 to 16 apply from 1 July 2025.
3. Subject to paragraph 2 of Attachment A, a private health insurer must notify APRA by 30 June 2023, and provide the data (using a template provided by APRA) described in paragraphs 3(a) and 3(b) of Attachment A by 30 September 2023, if they adopt the transitional arrangements set out in Attachment A. A private health insurer that adopts the transitional arrangements set out in Attachment A may only do so until 30 June 2025.