Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A prudential standard referred to in paragraph 92(3)(c), or an instrument varying or revoking such a standard, has effect:
(a) from the day on which the standard or instrument is made; or
(b) if the standard or instrument specifies a later day--from that later day.
(2) If APRA makes, varies or revokes a prudential standard referred to in paragraph 92(3)(c), it must, as soon as practicable:
(a) in the case of making a standard--give a copy of the standard to each private health insurer to which the standard applies; or
(b) in the case of varying a standard--give a copy of the variation to:
(i) each private health insurer to which the standard (as in force before the variation) applied; and
(ii) any other private health insurer to which the standard will (because of the variation) apply; or
(c) in the case of revoking a standard--give notice of the revocation to each private health insurer to which the standard (as in force before the revocation) applied.