Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A private health insurer may invest assets of a health benefits fund in any way that is likely to further the business of the fund.
(2) However:
(a) nothing in this Act authorises a private health insurer to make an investment the insurer would otherwise be prohibited from making; and
(b) nothing in this Act authorises a private health insurer to make an investment the insurer would not otherwise have power to make; and
(c) a private health insurer must not invest assets of a health benefits fund, or keep such assets invested, if the investment, or the retention of the investment, as the case requires, is prohibited by APRA rules made for the purpose of this paragraph, or by prudential standards.
(3) A transaction is not ineffective merely because it involves a contravention of paragraph (2)(c).