(1) A health insurance scheme licensed under this Act shall not transfer its activities or operate its activities jointly with another scheme unless it has the prior written approval of the Council.

(2) An application for approval under subsection (1) shall be made jointly to the Council by the schemes involved and shall contain such information as shall be prescribed under this Act.

(3) Before determining an application for approval under subsection (1), the Council shall cause to be conducted an investigation into the desirability of the change having regard to the best interest of the members of the schemes.

(4) The Council may conduct a hearing before determining an application under this section and may hear the representatives of the schemes, members of the schemes and any person the Council considers is sufficiently concerned in the matter to entitle the person to a hearing by the Council.

(5) The Council after the hearing shall make a determination which shall be binding on all parties and their members.

(6) A person dissatisfied with the decision of the Council may apply to the Minister for a review of the decision.