s 147B
In forceCompulsory insurance policy—minimum premium following default notice
Chapter 8Insurance
Part 8.1Insurance—general
Division 8.1.4Licences—compliance and other requirements
147B Compulsory insurance policy—minimum premium following default notice
(1)
This section applies if an employer—
(a)
receives a default notice, or a 2nd default notice, under section 147; and
(b)
subsequently obtains a compulsory insurance policy issued by a licensed insurer.
(2)
The employer must pay to the licensed insurer at least 30% of the premium payable for the policy at the time the policy is issued.
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