Certificates by scheme agents relating to cost of claims—retro-paid loss premium policy
149 Certificates by scheme agents relating to cost of claims—retro-paid loss premium policy
For the purpose of ascertaining the premium payable by an employer in respect of a period of insurance in relation to a retro-paid loss premium policy, the Nominal Insurer may, by notice in writing, require the scheme agent through whom the policy was issued, to furnish the Nominal Insurer, within 21 days of service of the notice, with a certificate in the approved form, specifying the particulars relating to costs of claims requested in the notice.
A scheme agent must not, without reasonable excuse—
fail to comply with a requirement made in accordance with subclause (1), or
in purported compliance with any such requirement, furnish a certificate knowing that the certificate contains particulars that are false or misleading in a material particular or knowing that the certificate is incomplete in a material particular.
Maximum penalty—20 penalty units.
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