Assessing liability after cancellation
102 Assessing liability after cancellation
This section applies if a licence is cancelled.
WorkCover must appoint an actuary to assess the former self-insurer’s liability under sections 68C and 87(1).
The amount of liability is the amount calculated under a regulation.
The amount of liability assessed and management costs—
are a debt due to WorkCover by the former self-insurer; and
are payable within 20 business days after the date of assessment, or a further period allowed by WorkCover.
Without limiting subsection (4), if the former self-insurer fails to pay the debt within the period, WorkCover may recover the debt from the former self-insurer’s section 84 security.
The Regulator must retain the section 84 security until it is satisfied that the former self-insurer’s liability under sections 68C and 87(1) has been discharged or adequately provided for.
In this section—
management costs means the reasonable costs of—
administering the former self-insurer’s claims; and
the actuarial assessment of liability.
This provision refers to the regulations (a regulation
). Made under this Act:
This Act’s bill:Explanatory memorandum
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.