5Definitions

5 Definitions

In this Act, unless the contrary intention appears:

APRA means the Australian Prudential Regulation Authority.

collapsed insurer: a private health insurer is a collapsed insurer if at least one of the following paragraphs applies in relation to at least one of the insurer’s health benefits funds:

(a) APRA has approved the termination of the health benefits fund under section 37 of the Private Health Insurance (Prudential Supervision) Act 2015;

(b) APRA has appointed an external manager of the health benefits fund under section 51 of the Private Health Insurance (Prudential Supervision) Act 2015;

(c) the Federal Court of Australia has ordered the appointment of a terminating manager of the health benefits fund under section 67 of the Private Health Insurance (Prudential Supervision) Act 2015.

collapsed insurer levy means a collapsed insurer levy imposed under section 7.

collapsed insurer levy day means a collapsed insurer levy day specified in a determination under section 7.

complying health insurance policy has the same meaning as in the Private Health Insurance Act 2007.

health benefits fund has the same meaning as in the Private Health Insurance Act 2007.

levy determination means a determination by the Minister under paragraph 7(1)(b).

private health insurer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015.