54Duties of external managers

#### 54 Duties of external managers (1) The main duties of the external manager of a health benefits fund are: (a) to examine the business, affairs and property of the fund; and (b) to ascertain the assets and liabilities of the fund; and (c) if the business of the fund has been mixed with other business of the private health insurer concerned—to apportion the assets and liabilities as between the fund and that other business; and (d) to form an opinion as to which course of action maximises the chance that the policy holders of the fund continue to be covered for health insurance either by that fund or by another fund to which the business of that fund is transferred; and (e) to make a final written report to APRA, in accordance with Subdivision E, recommending that course of action. (2) In the day‑to‑day administration of a health benefits fund, it is the duty of the external manager to administer the fund as efficiently and economically as possible.