(1) WorkCover WA may
accept from the liquidator of an insurer or self-insurer an amount, as agreed
between WorkCover WA and the liquidator, for payment into the DI Fund in full
and final satisfaction of all rights, whether actual, contingent or
prospective, that WorkCover WA has or may have against the liquidator, insurer
or self-insurer under this Act.
(2) Without limiting
the operation of subsection (1), if WorkCover WA accepts an amount
from the liquidator of an insurer or self-insurer under that subsection the
acceptance discharges any liability the liquidator might otherwise have to
make any payment under section 282.