(1) In this
section —
declared remuneration , of a working director who
is a worker, means —
(a) the
amount of remuneration stated as actually paid or payable to the working
director during a period of insurance in a remuneration statement for the most
recent period of insurance ending before the day on which the worker’s
injury occurred; or
(b) if a
remuneration statement was not provided for the most recent period of
insurance ending before the day on which the worker’s injury
occurred — the amount of remuneration stated in a remuneration
estimate as the amount estimated to be paid or payable to the working director
over the period of insurance during which the worker’s injury occurred;
remuneration estimate means an estimate provided
to an employer’s insurer in compliance with section 203 of the
aggregate amount of remuneration to be paid or payable to a working director
over a period of insurance;
remuneration statement means a statement provided
to an employer’s insurer in compliance with section 203 of the
aggregate amount of remuneration actually paid or payable to a working
director during a period of insurance.
(2) This
section applies to the calculation of a worker’s average weekly
rate of earnings in a position as a working director for the purposes of
ascertaining the worker’s pre-injury weekly rate of income under
section 54(1).
(3) The average weekly
rate of earnings of a working director of a company that is an insured
employer is —
(a) the
weekly rate calculated by averaging the declared remuneration of the working
director over the period to which the declared remuneration relates; or
(b) if
there is no declared remuneration of the working director — the
weekly rate calculated in accordance with the default calculation method under
subsection (4).
(4) The default
calculation method for calculating a working director’s average weekly
rate of earnings is as follows —
(a) the
worker’s earnings are taken to include all of the worker’s
remuneration as a working director that is paid or payable during the period
over which section 54(2) requires the worker’s average weekly rate
of earnings to be calculated; and
(b) the
average weekly rate of those earnings is calculated over that period.
(5) To the extent that
it is practicable to do so, before the amount of a worker’s remuneration
as a working director of a company that is an insured employer is used in a
calculation to which this section applies, particulars of the amount must
be verified by the company.
(6) The average weekly
rate of earnings of a working director of a company that is a self-insurer
must be calculated in accordance with the default calculation method under
subsection (4) except that, if no remuneration was in fact paid or
payable to the working director during the period concerned, remuneration is
taken to have been of an amount estimated on the basis of any relevant
contract, award or agreement.