Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) APRA may, in writing, appoint a person as the external manager of a health benefits fund if the requirements of subsections 52(1) and (2) are satisfied.
(2) However, the person:
(a) must be a registered liquidator who is entitled to act as the external manager of a health benefits fund under the current conditions (if any) imposed on the person; and
(b) must not be a person who is:
(i) a policy holder of the fund; or
(ii) an appointed actuary of the fund; or
(iii) an auditor of the fund; or
(iv) a chargee of property of the fund; or
(v) an officer of a body corporate that is a chargee of property of the fund; or
(vi) a person who is otherwise related to the fund.
(3) The appointment takes effect from the day specified in the instrument of appointment.
(4) In this section:
"current conditions" has the same meaning as in Schedule 2 to the Corporations Act 2001 (the Insolvency Practice Schedule).
"registered liquidator" has the same meaning as in the Corporations Act 2001 .