Western Australian Numbered Acts

WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 2023 (NO. 21 OF 2023) - SECT 259

259 .         Advances to DI Fund

        (1)         If the Treasurer considers that the amount standing to the credit of the DI Fund at any time is insufficient for the purposes of the DI Fund, an amount sufficient for the time being to make up for that insufficiency may be advanced by the Treasurer to WorkCover WA.

        (2)         If an amount can be transferred under section 258(2) (a General Account transfer ) to make up or partially make up for the insufficiency referred to in subsection (1) —

            (a)         the General Account transfer must be made before an advance under subsection (1) can be made; and

            (b)         the amount that can be advanced under subsection (1) is limited to the balance of the insufficiency after the General Account transfer.

        (3)         Any amount advanced to WorkCover WA under subsection (1) must be credited to the DI Fund.

        (4)         Interest is payable on an advance made under subsection (1) at the rate and at times the Treasurer determines.

        (5)         As and when there is a sufficient amount standing to the credit of the DI Fund to enable money advanced under subsection (1) to be repaid, WorkCover WA must repay to the Treasurer the money advanced together with any interest payable.

        (6)         Until it is repaid, any advance under subsection (1) together with any interest payable is a charge on the DI Fund.