Commonwealth Consolidated Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 - SECT 65

Regulations etc. under the Corporations Act

  (1)   A reference in an application provision to an applied Corporations Act provision includes (unless the contrary intention appears) a reference to any regulations or other instruments in force for the purposes of that provision, or any of those provisions, of the Corporations Act 2001 .

Note:   So, for example, a provision of this Act that applies a particular provision of the Corporations Act 2001 also applies any regulations that have effect for the purposes of that provision (unless a contrary intention appears).

  (2)   An application provision is a provision of this Division that:

  (a)   provides for the application of a provision, or a group of provisions (including a Chapter, Part, Division or Subdivision), of the Corporations Act 2001 ; or

  (b)   refers to a provision, or group of provisions, of the Corporations Act 2001 as so applied.

  (3)   An applied Corporations Act provision is a provision, or a provision in a group of provisions, of the Corporations Act 2001 that is applied as mentioned in paragraph   (2)(a).

Modifications under APRA rules

  (4)   If an application provision contains a power for APRA rules to modify an applied Corporations Act provision the power extends to modifying any regulations or other instruments, in force for the purposes of that provision of the Corporations Act 2001 , that are applied as a result of subsection   (1).

  (5)   The fact that provision is made in this Act for a specific modification of one or more applied Corporations Act provisions does not imply that further modifications of that provision, or any of those provisions, consistent with that specific modification, should not be made by APRA rules.

Corporations Act definitions and interpretation principles

  (6)   The definitions and interpretation principles that have effect in or under the Corporations Act 2001 have the same effect in relation to:

  (a)   an applied Corporations Act provision; or

  (b)   a provision of regulations or another instrument that is applied as a result of subsection   (1);

as that provision applies for the purposes of a provision of this Division, unless a contrary intention appears in an application provision or in a modification made by APRA rules.

Things that may be done under regulations under the Corporations Act

  (7)   If an applied Corporations Act provision allows something to be done in or by regulations or instruments, then:

  (a)   APRA rules may do that thing for the purposes of the applied Corporations Act provision; and

  (b)   if they do, any regulations or instruments that are applied as a result of subsection   (1) are ineffective, for the purposes of this Division, to the extent that they are inconsistent with the provisions of APRA rules that do that thing.