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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
Workers Compensation Legislation
Amendment (Financial Provisions)
Bill 2008
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Workplace Injury Management and
Workers Compensation Act 1998 No 86 2
4 Amendment of Workers Compensation Act 1987 No 70 2
5 Repeal of Act 2
Schedule 1 Amendment of Workplace Injury Management and
Workers Compensation Act 1998 3
Schedule 2 Amendment of Workers Compensation Act 1987 5
b2007-139-20.d08b
New South Wales
Workers Compensation Legislation
Amendment (Financial Provisions)
Bill 2008
No , 2008
A Bill for
An Act to amend the Workplace Injury Management and Workers Compensation Act
1998 and the Workers Compensation Act 1987 to make further provision for the
funding of the WorkCover Authority.
Workers Compensation Legislation Amendment (Financial Provisions)
Clause 1 Bill 2008
The Legislature of New South Wales enacts: 1
1 Name of Act 2
This Act is the Workers Compensation Legislation Amendment 3
(Financial Provisions) Act 2008. 4
2 Commencement 5
(1) This Act commences, or is taken to have commenced, on 1 July 2008, 6
except as provided by subsection (2). 7
(2) Schedule 1 [3] commences on the date of assent to this Act. 8
3 Amendment of Workplace Injury Management and Workers 9
Compensation Act 1998 No 86 10
The Workplace Injury Management and Workers Compensation Act 11
1998 is amended as set out in Schedule 1. 12
4 Amendment of Workers Compensation Act 1987 No 70 13
The Workers Compensation Act 1987 is amended as set out in 14
Schedule 2. 15
5 Repeal of Act 16
(1) This Act is repealed on the day following the day on which all of the 17
provisions of this Act have commenced. 18
(2) The repeal of this Act does not, because of the operation of section 30 19
of the Interpretation Act 1987, affect any amendment made by this Act. 20
Page 2
Workers Compensation Legislation Amendment (Financial Provisions)
Bill 2008
Amendment of Workplace Injury Management and Workers Compensation Schedule 1
Act 1998
Schedule 1 Amendment of Workplace Injury 1
Management and Workers 2
Compensation Act 1998 3
(Section 3) 4
[1] Section 35 Payments into and from Fund 5
Insert after section 35 (1) (a): 6
(a1) money approved by the Minister to be paid into the Fund 7
from the Insurance Fund under subsection (1A), 8
[2] Section 35 (1A) 9
Insert after section 35 (1): 10
(1A) The Minister may approve the payment into the Fund of amounts 11
from the Insurance Fund having regard to the estimates, 12
provisions and determinations made by the Authority under 13
section 38 and any need for additional funding to provide for the 14
proper exercise of the Authority's functions. 15
[3] Section 35 (4) 16
Insert after section 35 (3): 17
(4) The Authority may pay from the Fund into the Insurance Fund 18
any amount by which the Authority determines the Fund to be in 19
surplus from time to time. Any such surplus may be paid to the 20
Insurance Fund by transfer of any investment held by the Fund 21
(as an alternative to the payment of money). 22
[4] Section 38 Assessment by Authority of amount to be contributed to 23
Fund 24
Omit "from insurers" from section 38 (c). 25
Insert instead "from specialised insurers". 26
[5] Section 38 (c1) 27
Insert after section 38 (c): 28
(c1) to make an estimate of the amount required to be 29
contributed to the Fund from the Insurance Fund during 30
that financial year, and 31
Page 3
Workers Compensation Legislation Amendment (Financial Provisions)
Bill 2008
Schedule 1 Amendment of Workplace Injury Management and Workers Compensation
Act 1998
[6] Section 38 (d) 1
Omit the paragraph. Insert instead: 2
(d) to determine the total amount to be contributed to the Fund 3
in respect of that financial year by specialised insurers, 4
self-insurers and Comcare employers under this Division 5
after having regard to: 6
(i) the amounts standing to the credit of the Fund at the 7
beginning of the year, including any amounts set 8
aside in earlier years as provisions to meet 9
expenditure in later years, and 10
(ii) the amounts estimated under paragraph (c) to be 11
received into the Fund during the year, and 12
(iii) the amounts to be contributed to the Fund from the 13
Insurance Fund during the year, and 14
[7] Section 38 (e) 15
Omit "by insurers". Insert instead "by specialised insurers". 16
[8] Section 39 Contributions to Fund by specialised insurers and 17
self-insurers 18
Omit "Each insurer" from section 39 (1). 19
Insert instead "Each specialised insurer". 20
[9] Section 39 (2), (5), (7) and (9) 21
Omit "an insurer" wherever occurring. 22
Insert instead "a specialised insurer". 23
[10] Section 39 (2), (5) and (7) 24
Omit "the insurer" wherever occurring. 25
Insert instead "the specialised insurer". 26
[11] Section 39 (4) 27
Omit "by insurers" and "all insurers". 28
Insert instead "by specialised insurers" and "all specialised insurers" 29
respectively. 30
[12] Section 39 (6B) 31
Omit "by insurers". Insert instead "by specialised insurers". 32
Page 4
Workers Compensation Legislation Amendment (Financial Provisions)
Bill 2008
Amendment of Workers Compensation Act 1987 Schedule 2
Schedule 2 Amendment of Workers Compensation 1
Act 1987 2
(Section 4) 3
[1] Section 154E Assets of Insurance Fund 4
Omit section 154E (2) (h). Insert instead: 5
(h) the payment by the Nominal Insurer of contributions under 6
this Act to the Guarantee Fund or the Terrorism 7
Re-insurance Fund as referred to in section 239AE, 8
(h1) the payment to the WorkCover Authority Fund of amounts 9
approved by the Minister under section 35 of the 1998 Act, 10
[2] Schedule 6 Savings, transitional and other provisions 11
Insert as Part 19E: 12
Part 19E Provisions consequent on enactment of 13
Workers Compensation Legislation 14
Amendment (Financial Provisions) Act 15
2008 16
1 Payment of contribution on premium income of Nominal Insurer 17
(1) There is payable from the Insurance Fund to the WorkCover 18
Authority Fund an amount equal to the relevant percentage of 19
premium income of the Nominal Insurer that is due but unpaid at 20
the end of June 2008 less a provision for any premiums that the 21
Nominal Insurer determines are unlikely to be paid. The relevant 22
percentage is the percentage rate of contribution payable under 23
section 39 (2) of the 1998 Act. 24
(2) Any liability of the Nominal Insurer to pay a contribution under 25
section 39 of the 1998 Act in respect of premium income of the 26
Nominal Insurer received before 1 July 2008 continues despite 27
the amendment of that section by the Workers Compensation 28
Legislation Amendment (Financial Provisions) Act 2008. 29
(3) A payment required by this clause is to be made as soon as 30
practicable after 30 June 2008. 31
Page 5
Workers Compensation Legislation Amendment (Financial Provisions)
Bill 2008
Schedule 2 Amendment of Workers Compensation Act 1987
[3] Schedule 6, Part 20 1
Insert at the end of clause 1 (1): 2
Workers Compensation Legislation Amendment (Financial 3
Provisions) Act 2008 4
Page 6
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