Commonwealth Numbered Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 (NO. 85, 2015) - SECT 71

                   A person commits an offence if:

                     (a)  a health benefits fund is under external management or terminating management; and

                     (b)  the person is not the manager of the fund; and

                     (c)  the person performs or exercises in relation to the fund, or purports to perform or exercise in relation to the fund, a function or power as:

                              (i)  an officer of the responsible insurer for the fund; or

                             (ii)  an external administrator of any of the assets of the fund; and

                     (d)  the person does so without the manager's written approval; and

                     (e)  the function or power is one that the manager has power to exercise or perform.

Penalty:  Imprisonment for 12 months or 60 penalty units, or both.

Note:          If a body corporate is convicted of an offence against this section, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.