120Court power of disqualification

#### 120 Court power of disqualification (1) On application by APRA, the Federal Court may, by order, disqualify a person from being or acting as someone referred to in subsection (2), for a period that the Court considers appropriate, if the Court is satisfied that: (a) the person is not a fit and proper person to be or act as such a person; and (b) the disqualification is justified. (2) For the purposes of subsection (1), the Federal Court may disqualify a person from being or acting as an officer or appointed actuary of: (a) a particular private health insurer; or (b) a class of private health insurers; or (c) any private health insurer. (3) In deciding whether paragraph (1)(a) is satisfied, the Federal Court may take into account: (a) any criteria for fitness and propriety set out in prudential standards; and (b) any other matters specified in prudential standards; and (c) any other matters the Court considers relevant. (4) In deciding whether paragraph (1)(b) is satisfied, the Federal Court may have regard to: (a) if the application is for the person to be disqualified from being or acting as an officer—the person’s conduct in relation to the management, business or property of any corporation; and (b) if the application is for the person to be disqualified from being or acting as an appointed actuary—the person’s conduct, in relation to the person’s functions or duties as an actuary, under any of the following: (i) this Act; (ii) the Private Health Insurance Act 2007; (iii) the Financial Sector (Collection of Data) Act 2001; (iiia) the Financial Accountability Regime Act 2023; (iv) the Insurance Act 1973; (v) the Life Insurance Act 1995; (vi) the Superannuation Industry (Supervision) Act 1993; and (c) in any case—any other matters the Court considers relevant. (5) As soon as practicable after the Federal Court disqualifies a person under this section, APRA must cause particulars of the disqualification: (a) if the person is, or is acting as, an officer or appointed actuary of a private health insurer—to be given to the private health insurer concerned; and (b) to be published in the Gazette.