Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If a private health insurer has a health benefits fund in respect of its health insurance business and some or all of its health - related businesses, the dominant purpose of the fund must relate to its health insurance business.
(2) If APRA is satisfied that a private health insurer is contravening subsection (1):
(a) APRA may, by written notice to the insurer, give the insurer such directions relating to divesting the fund of health - related businesses as APRA considers necessary to ensure the insurer's compliance with subsection (1); and
(b) the insurer must comply with those directions.
(3) APRA may, by written notice to a private health insurer, vary or revoke a direction given to the insurer under subsection (2).
(4) A direction under subsection (2) ceases to have effect if APRA revokes the direction.
(5) Sections 98, 101, 102 and 103 apply in relation to a direction under subsection (2) as if:
(a) a reference in those sections to a direction under section 96 were a reference to a direction under subsection (2) of this section; and
(b) the reference in subsection 101(3) to a direction of a kind referred to in paragraph 97(1)(l) were omitted.
Note: The matters dealt with in the sections applied by this subsection are as follows:
(a) section 98--power to comply with a direction;
(b) section 101--a direction is not grounds for denial of obligations;
(c) section 102--supply of information about directions;
(d) section 103--secrecy requirements.