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Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Bill 2015


Type
Government
Originating house
House of Representatives
Status
Act
Portfolio
Treasury

Summary

Part of a package of five bills to create a regime for the prudential regulation of private health insurers, the bill amends: the Australian Prudential Regulation Authority Act 1998 to establish a new special account to administer the collapsed insurer levy; the Financial Institutions Supervisory Levies Collection Act 1998 to provide for the collection of the private health insurer supervisory levy and the collapsed insurer levy; the Financial Sector (Collection of Data) Act 2001 to provide for the collection of data from private health insurers by the Australian Prudential Regulation Authority (APRA); the Australian Prudential Regulation Authority Act 1998, Ombudsman Act 1976 and Private Health Insurance Act 2007 to provide for matters relating to the secrecy and sharing of information concerning private health insurers; and five Acts to make consequential amendments. Also: repeals the Private Health Insurance (Council Administration Levy) Act 2003; and provides for transitional arrangements, including the transfer of the Private Health Insurance Administration Council’s staff, assets, liabilities and records to APRA.

Progress of bill

For committee reference information, please see the Notes section at the end of this page.

House of Representatives
Introduced and read a first time 27/05/15  
Second reading moved 27/05/15  
Second reading debate 04/06/15  
Second reading debate 15/06/15  
Second reading agreed to 15/06/15  
Third reading agreed to 15/06/15  
     
Senate
Introduced and read a first time 16/06/15  
Second reading moved 16/06/15  
Second reading debate 22/06/15  
Second reading agreed to 22/06/15  
Committee of the Whole debate 22/06/15  
Third reading agreed to 22/06/15  
     
Finally passed both Houses 22/06/15  
Assent 26/06/15 Act no.: 87 - Year: 2015
     

Text of bill

  • First reading

MS-Word PDF HTML
  • As passed by both Houses

MS-Word PDF HTML

Explanatory memoranda

  • Explanatory memorandum

MS-Word PDF HTML

Second reading speeches


Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

Bills Digest



Notes
  • Referred to Committee (27/05/2015): Senate Economics Legislation Committee; Report due 17/06/2015
  • An electronic version of this Act is available on the Federal Register of Legislation (www.legislation.gov.au)