Workers Compensation Act 1987

Out of the Guarantee Fund, ICNSW as manager of that Fund—

shall pay the amount of any claim, judgment or award arising from or relating to any policy of insurance issued by an insolvent insurer, being a claim, judgment or award that it proposes to satisfy as agent and attorney of an employer, and any other amounts required by this Division to be paid from that Fund, and

is entitled—

to be paid the costs of administration of the Guarantee Fund (including any legal or other costs connected with the declaration of an insurer as an insolvent insurer), and

to be indemnified against all payments made by it and all costs and expenses that it may incur in or in connection with the exercise of its functions under this Division.

Where a payment is made by ICNSW as agent and attorney of an employer, being a payment authorised by this Division, ICNSW shall not be entitled to recover the amount of that payment from the employer.