8Exempt insurers

8 Exempt insurers

(1) A private health insurer is an exempt insurer in relation to a levy determination if:

(a) it is the collapsed insurer; or

(b) the Minister determines, by legislative instrument, that the insurer is an exempt insurer.

(2) The Minister may make a determination under paragraph (1)(b) if the Minister is satisfied that imposing the collapsed insurer levy on the insurer would have a significantly adverse effect on the insurer’s ability to comply with:

(a) a prudential standard (within the meaning of the Private Health Insurance (Prudential Supervision) Act 2015) relating to capital adequacy or solvency that applies in relation to the insurer; or

(b) a direction given to the insurer under section 96 of that Act.