Commonwealth Consolidated Acts

PRIVATE HEALTH INSURANCE (PRUDENTIAL SUPERVISION) ACT 2015 - SECT 123

    A private health insurer must not:

  (a)   use its money, or permit the use of its money, for:

  (i)   the payment of a pecuniary penalty imposed on an officer of the insurer because of an offence under this Act; or

  (ii)   the payment of an amount that an officer of the insurer, or a person who has been such an officer, is liable to pay under this Act; or

  (b)   reimburse:

  (i)   an officer of the insurer in respect of a pecuniary penalty imposed on the officer because of an offence under this Act; or

  (ii)   an officer of the insurer, or a person who has been such an officer, in respect of a liability imposed on the officer under this Act.