51APRA may appoint external managers

51 APRA may appoint external managers

(1) APRA may, in writing, appoint a person as the external manager of a health benefits fund if the requirements of subsections 52(1) and (2) are satisfied. (2) However, the person: (a) must be a registered liquidator who is entitled to act as the external manager of a health benefits fund under the current conditions (if any) imposed on the person; and (b) must not be a person who is: (i) a policy holder of the fund; or (ii) an appointed actuary of the fund; or (iii) an auditor of the fund; or (iv) a chargee of property of the fund; or (v) an officer of a body corporate that is a chargee of property of the fund; or (vi) a person who is otherwise related to the fund. (3) The appointment takes effect from the day specified in the instrument of appointment. (4) In this section:

current conditions has the same meaning as in Schedule 2 to the Corporations Act 2001 (the Insolvency Practice Schedule).

registered liquidator has the same meaning as in the Corporations Act 2001.