2013-2014-2015 

 

The Parliament of the 

Commonwealth of Australia 

 

HOUSE OF REPRESENTATIVES 

 

 

 

 

Presented and read a first time 

 

 

 

 

Private Health Insurance (Collapsed 

Insurer Levy) Amendment Bill 2015 

 

No.      , 2015 

 

(Treasury) 

 

 

 

A Bill for an Act to amend the Private Health 

Insurance (Collapsed Insurer Levy) Act 2003, and 

for related purposes 

   

   

 

 

No.      , 2015 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

i 

 

Contents 

1 

Short title ........................................................................................... 1

 

2 

Commencement ................................................................................. 1

 

3 

Schedules ........................................................................................... 2

 

Schedule 1--Amendments

 

3

 

Part 1--Main amendments

 

3

 

Private Health Insurance (Collapsed Insurer Levy) Act 2003

 

3

 

Part 2--Other amendments

 

6

 

Private Health Insurance (Collapsed Insurer Levy) Act 2003

 

6

 

 

 

 

 

No.      , 2015 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

1 

 

A Bill for an Act to amend the Private Health 

1 

Insurance (Collapsed Insurer Levy) Act 2003, and 

2 

for related purposes 

3 

The Parliament of Australia enacts: 

4 

1  Short title 

5 

 

  This Act may be cited as the Private Health Insurance (Collapsed 

6 

Insurer Levy) Amendment Act 2015. 

7 

2  Commencement 

8 

 

(1)  Each provision of this Act specified in column 1 of the table 

9 

commences, or is taken to have commenced, in accordance with 

10 

column 2 of the table. Any other statement in column 2 has effect 

11 

according to its terms. 

12 

   

   

 

 

2 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

No.      , 2015 

 

 

1 

Commencement information 

Column 1 

Column 2 

Column 3 

Provisions 

Commencement 

Date/Details 

1.  Sections 1 to 3 

and anything in 

this Act not 

elsewhere covered 

by this table 

The day this Act receives the Royal Assent. 

 

2.  Schedule 1, 

Part 1 

At the same time as section 1 of the Private 

Health Insurance (Prudential Supervision) 

Act 2015 commences. 

 

3. Schedule 1, 

Part 2 

The later of: 

(a) the commencement of the provisions 

covered by table item 2; and 

(b) the commencement of Part 1 of 

Schedule 2 to the Norfolk Island 

Legislation Amendment Act 2015. 

 

Note: 

This table relates only to the provisions of this Act as originally 

2 

enacted. It will not be amended to deal with any later amendments of 

3 

this Act. 

4 

 

(2)  Any information in column 3 of the table is not part of this Act. 

5 

Information may be inserted in this column, or information in it 

6 

may be edited, in any published version of this Act. 

7 

3  Schedules 

8 

 

  Legislation that is specified in a Schedule to this Act is amended or 

9 

repealed as set out in the applicable items in the Schedule 

10 

concerned, and any other item in a Schedule to this Act has effect 

11 

according to its terms. 

12 

Amendments  Schedule 1 

Main amendments  Part 1 

 

 

No.      , 2015 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

3 

 

Schedule 1

--Amendments 

1 

Part 1

--Main amendments 

2 

Private Health Insurance (Collapsed Insurer Levy) Act 2003 

3 

1  Section 5 

4 

Insert: 

5 

APRA means the Australian Prudential Regulation Authority. 

6 

2  Section 5 (definition of collapsed insurer) 

7 

Repeal the definition, substitute: 

8 

collapsed insurer: a private health insurer is a collapsed insurer if 

9 

at least one of the following paragraphs applies in relation to at 

10 

least one of the insurer's health benefits funds: 

11 

 

(a)  APRA has approved the termination of the health benefits 

12 

fund under section 37 of the Private Health Insurance 

13 

(Prudential Supervision) Act 2015; 

14 

 

(b)  APRA has appointed an external manager of the health 

15 

benefits fund under section 51 of the Private Health 

16 

Insurance (Prudential Supervision) Act 2015; 

17 

 

(c)  the Federal Court of Australia has ordered the appointment of 

18 

a terminating manager of the health benefits fund under 

19 

section 67 of the Private Health Insurance (Prudential 

20 

Supervision) Act 2015. 

21 

3  Section 5 (definition of Council) 

22 

Repeal the definition. 

23 

4  Section 5 

24 

Insert: 

25 

health benefits fund has the same meaning as in the Private 

26 

Health Insurance Act 2007. 

27 

Schedule 1  Amendments 

Part 1  Main amendments 

 

 

4 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

No.      , 2015 

 

5  Section 5 (definition of private health insurer) 

1 

Omit "Private Health Insurance Act 2007", substitute "Private Health 

2 

Insurance (Prudential Supervision) Act 2015". 

3 

6  At the end of section 7 

4 

Add: 

5 

 

(3)  A determination specifying a collapsed insurer levy day must also 

6 

specify the payment day for levy imposed on that collapsed insurer 

7 

levy day. 

8 

Note: 

The payment day is the day on which the levy is due and payable 

9 

under Part 3B of the Financial Institutions Supervisory Levies 

10 

Collection Act 1998. 

11 

7  Paragraphs 8(2)(a) and (b) 

12 

Repeal the paragraphs, substitute: 

13 

 

(a)  a prudential standard (within the meaning of the Private 

14 

Health Insurance (Prudential Supervision) Act 2015) relating 

15 

to capital adequacy or solvency that applies in relation to the 

16 

insurer; or 

17 

 

(b)  a direction given to the insurer under section 96 of that Act. 

18 

8  Section 10 (heading) 

19 

Repeal the heading, substitute: 

20 

10  Minister to obtain advice from APRA 

21 

9  Subsection 10(1) 

22 

Omit "the Council", substitute "APRA". 

23 

10  After paragraph 10(1)(c) 

24 

Insert: 

25 

 

(ca)  the day that is to be specified as the payment day in relation 

26 

to a collapsed insurer levy day; 

27 

11  Subsection 10(2) 

28 

Omit "the Council", substitute "APRA". 

29 

Amendments  Schedule 1 

Main amendments  Part 1 

 

 

No.      , 2015 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

5 

 

12  Section 11 

1 

Repeal the section. 

2 

13  Subsection 12(2) 

3 

Omit "the Council", substitute "APRA". 

4 

14  Transitional

--continued effect of determinations relating 

5 

to collapsed insurer levy 

6 

A determination in force immediately before the commencement of this 

7 

item under section 7, 8 or 9 of the Private Health Insurance (Collapsed 

8 

Insurer Levy) Act 2003 has effect after that time as if it had been made 

9 

in accordance with that Act as amended by this Act. 

10 

Schedule 1  Amendments 

Part 2  Other amendments 

 

 

6 

Private Health Insurance (Collapsed Insurer Levy) Amendment Bill 

2015 

No.      , 2015 

 

Part 2

--Other amendments 

1 

Private Health Insurance (Collapsed Insurer Levy) Act 2003 

2 

15  Section 4 

3 

After "extends to", insert "Norfolk Island, to". 

4