85Modifications of this Act in relation to health benefits funds under management

85 Modifications of this Act in relation to health benefits funds under management

(1) APRA rules may set out modifications of this Act, or the Private Health Insurance Act 2007, relating to how Chapter 3 of the Private Health Insurance Act 2007 applies in relation to health benefits funds for which: (a) external managers have been appointed under Division 6 of this Part; or (b) terminating managers have been appointed under Division 5 or 7 of this Part. (2) APRA rules may provide for different such modifications according to the nature of the health benefits funds concerned. (3) The modifications cannot: (a) modify a provision of this Act that creates an offence; or (b) include new provisions that create offences. (4) Before making APRA rules for the purposes of this section, APRA must consult the Health Secretary. However, a failure to consult the Health Secretary does not affect the validity of such rules.

Note: This consultation requirement also applies to any repeal or amendment of such rules (see subsection 33(3) of the Acts Interpretation Act 1901).

(5) This Act and the Private Health Insurance Act 2007 have effect subject to the modifications.