44Completion of the termination process

#### 44 Completion of the termination process The termination of the health benefits funds of a private health insurer is completed if: (a) the period of 12 months referred to in subsection 40(4) has come to an end; and (b) so far as possible having regard to the extent of the assets of the funds: (i) the liabilities of the funds to the policy holders of the funds have been discharged; and (ii) any collapsed insurer assistance payments (within the meaning of section 54H of the Australian Prudential Regulation Authority Act 1998) made by APRA, for the purposes of any of the funds, have been repaid to APRA; and (iii) any other liabilities of the funds have been discharged.