95Notice of contravention of prudential standards or of other matters that materially affect financial position

#### 95 Notice of contravention of prudential standards or of other matters that materially affect financial position (1) A private health insurer commits an offence if: (a) the insurer becomes aware of: (i) a contravention by it of a prudential standard, other than a contravention that is merely of a minor or technical nature; or (ii) any other matter or occurrence that materially affects its financial position; and (b) the insurer fails to notify APRA, as soon as practicable, in writing of the contravention or of the other matter or occurrence. Penalty: 30 penalty units. > Note: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above. (2) A notification given to APRA of a matter referred to in paragraph (1)(a) must not include personal information relating to a person insured under a complying health insurance product that is referable to a health benefits fund conducted by the insurer, unless the information relates to prudential matters relating to the insurer.