Commonwealth Consolidated Acts

PRIVATE HEALTH INSURANCE ACT 2007 - SECT 310.5

  (1)   A private health insurer must keep all records that are relevant to either or both of following:

  (a)   whether the insurer is liable to pay a * private health insurance levy;

  (b)   the amount of the private health insurance levy that the insurer is liable to pay.

  (2)   The records must be kept in:

  (a)   an electronic form; or

  (b)   another form approved by:

  (i)   the Secretary of the Department, if the records relate to * complaints levy; or

  (ii)   * APRA, if the records relate to * risk equalisation levy.

  (3)   The records must be retained for a period of 7 years (or a shorter period allowed by the Private Health Insurance (Levy Administration) Rules) starting on the later of:

  (a)   the day on which the records were created; or

  (b)   1   July 2004.

  (4)   A private health insurer commits an offence if the insurer fails to:

  (a)   keep the records; or

  (b)   keep the records in the form required by or under subsection   (2); or

  (c)   retain the records for the period required by or under subsection   (3).

Penalty:   60 penalty units.

  (5)   Strict liability applies to subsection   (4).

Note:   For strict liability , see section   6.1 of the Criminal Code .

  (6)   Nothing in this section is to be taken to have required an insurer to do an act or thing before the day on which this Act commences.