121‑20 Exception: accident and sickness 121‑20 Exception: accident and sickness insurance business

121‑20 Exception: accident and sickness insurance business (1) Despite section 121‑1, *health insurance business does not include the business of undertaking liability, by way of insurance, to pay a lump sum, or to make periodic payments, on the happening of a personal accident, disease or sickness. (2) However, this section does not apply to: (a) business where liability is undertaken with respect to loss arising out of a liability to pay fees or charges in relation to the provision in Australia of *hospital treatment or *general treatment; or (b) business of a kind specified in the Private Health Insurance (Health Insurance Business) Rules for the purposes of this paragraph.