Western Australian Numbered Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 2023 (NO. 21 OF 2023) - SECT 250

250 .         Requirement for security

        (1)         A self-insurer licence is subject to the condition that security for the payment of all the self-insurer liabilities of the employer and each employer to which the licence extends (a self-insurer security ) must be provided and maintained on terms approved by WorkCover WA from time to time.

        (2)         The terms approved for a self-insurer security can require the self-insurer security to provide continuing security for the payment of self-insurer liabilities after the self-insurer licence to which the security relates has expired or been cancelled.

        (3)         A self-insurer security must be provided by means of a guarantee by a financial institution approved by WorkCover WA that guarantees payment of the required security amount to WorkCover WA on demand by WorkCover WA.

        (4)         WorkCover WA may approve of a self-insurer security being provided by means of a bond, indemnity or undertaking to pay or by other means WorkCover WA considers acceptable.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback