Employer must notify licensed insurer of certain corrected information
155A Employer must notify licensed insurer of certain corrected information
This section applies if an employer has provided an employer’s estimate under section 155 to a licensed insurer for a particular period.
If the employer’s estimate of total wages understates the correct amount by more than $500 000 for the period, the employer must tell the licensed insurer that information provided in the employer’s estimate is incorrect.
The employer must—
tell the licensed insurer about the incorrect information mentioned in subsection (2)—
in writing; and
within 30 days after the day the employer becomes aware of the incorrect information; and
include in the written notice to the licensed insurer details of the correct estimate of the amount of total wages for the particular period.
The notice required under subsection (3) may be signed for the employer by any of the following:
if the employer is a corporation—an officer of the corporation authorised to sign the statement;
in any other case—an owner of the employer’s business.
A person commits an offence if the person—
is an employer; and
is required under this section to tell a licensed insurer about incorrect information; and
fails to tell the licensed insurer about the incorrect information within 30 days after the day the employer becomes aware of the incorrect information.
Maximum penalty: 50 penalty units.
An offence against subsection (5) is a strict liability offence.
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