Asbestos-Related Diseases (Occupational Exposure) Compensation Act 2011

The Commissioner is to establish and maintain a fund to be called the Asbestos Compensation Fund.

The Commissioner is to administer the Fund.

The following are to be paid into the Fund:all levies collected under this Act; any amounts that are allocated to the Fund from the Public Account; any gifts or donations to the Fund; all money recovered by the Commissioner; any interest and earnings on the balance of the Fund.

There may be paid out of the Fund – amounts that have been determined under this Act to be payable by the Commissioner as compensation under this Act; and amounts that have been determined under this Act to be payable by the Commissioner for expenses of the kind referred to in Part 11; and any amounts for the costs of an examination, or test, conducted by a medical practitioner, or an accredited impairment assessor, to whom a medical question is referred under this Act and any analysis required to be conducted as a result of the examination or test; and the costs and expenses incurred by the Commissioner in the administration of, or for the purposes of, this Act or the performance or exercise of the Commissioner's functions or powers; and the costs and expenses incurred in the provision of training and education of professionals performing functions under this Act, and the community generally, if the Commissioner is satisfied that the costs and expenses are reasonable in the circumstances; and the expenses incurred by or in relation to a medical panel; and any amount required for a refund of the levy; and any remuneration payable under this Act; and any other amount specified in this Act as being required to be paid out of the Fund.

For the purposes of this section, the Commissioner, with the approval of the Treasurer, may open and maintain with an authorised deposit-taking institution one or more accounts in the name of the Commissioner.

The Commissioner may borrow money, from sources and on terms and conditions approved by the Treasurer, if – it is necessary to do so to meet the liabilities, or anticipated future liabilities, of the Commissioner; and the Commissioner is authorised to do so by the Treasurer.