Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) As soon as practicable after the external management or terminating management of a health benefits fund begins, each director of the responsible insurer for the fund must:
(a) deliver to the manager all records in the director's possession that relate to the business of the fund; and
(b) if the director knows of the locality of other records relating to the business of the fund--tell the manager of that locality.
(2) The directors and other officers of the responsible insurer for the fund must give the manager a statement about the business, property, affairs and financial circumstances of the fund. The statement must be given to the manager within 7 days after the external management or terminating management begins, or such longer period as the manager determines in writing.
(3) The statement must comply with any requirements of the manager as to its form and contents.
(4) A director or other officer of the responsible insurer for the fund must:
(a) attend on the manager at such times; and
(b) give the manager such information about the business, property, affairs and financial circumstances of the fund;
as the manager reasonably requires.
(5) A person commits an offence if:
(a) the person is required, by or under subsection (1), (2), (3) or (4), to do something; and
(b) the person does not comply with the requirement.
Note: If a body corporate is convicted of an offence against this subsection, subsection 4B(3) of the Crimes Act 1914 allows a court to impose a fine of up to 5 times the penalty stated above.
(6) Subsection (1) does not apply if the person is entitled to retain possession of the records, as against the manager and the responsible insurer for the fund.
Note: A defendant bears an evidential burden in relation to the matter in this subsection (see subsection 13.3(3) of the Criminal Code ).