21Cancellation of registration

21 Cancellation of registration

(1) APRA must, in writing, cancel the registration of a private health insurer if: (a) the insurer has not conducted health insurance business during the preceding 12 months; or (b) the insurer’s health benefits funds have been terminated under Division 5 of Part 3; or (c) the insurer ceases to be a company within the meaning of the Corporations Act 2001. (1A) APRA may, in writing, cancel the registration of a private health insurer if APRA is satisfied that the private health insurer has failed to comply with a requirement of the Financial Accountability Regime Act 2023. (2) APRA must: (a) give the insurer written notice of the cancellation; and (b) within one month after the cancellation, publish in the Gazette a notification of the cancellation.