Annual levy—Act, s 81
18 Annual levy—Act, s 81
For section 81(2) of the Act, this section prescribes the way to calculate a self-insurer’s levy for each financial year or part of a financial year of a licence.
The Regulator must specify a date (the specified date) for a financial year and publish the date in the gazette.
The self-insurer’s levy for each financial year or part of a financial year of a licence must be calculated using the formula—
where—
estimated claims liability means the self-insurer’s estimated claims liability most recently agreed by the Regulator and the self-insurer under section 67, or most recently decided by the arbiter under section 102, before the specified date for the financial year.
rate means the rate published by the Regulator under section 81(6) of the Act for the particular financial year.
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