Western Australian Numbered Acts

WORKERS COMPENSATION AND INJURY MANAGEMENT ACT 2023 (NO. 21 OF 2023) - SECT 298

298 .         Insurance Commission to determine required contributions to CIF

        (1)         For each financial year the Insurance Commission must determine the amount (the total annual CIF contribution ) that is required to be credited to the CIF to ensure the sustainable functioning of the CIF in respect of workplace injury liabilities, having regard to —

            (a)         the amount standing to the credit of the CIF in respect of workplace injury liabilities; and

            (b)         the amount, if any, that WorkCover WA has arranged to remit to the Insurance Commission under section 301 in the financial year for crediting to the CIF; and

            (c)         the amount required to provide for existing and expected workplace injury liabilities of the CIF, determined having regard to independent actuarial advice obtained by the Insurance Commission.

        (2)         The Insurance Commission must notify WorkCover WA of the total annual CIF contribution for a financial year.