Nominal Insurer to pay into Fund amounts from HIH funds
163 Nominal Insurer to pay into Fund amounts from HIH funds
In this section – Nominal Insurer means the Nominal Insurer established under the Workers Rehabilitation and Compensation Act 1988;Special Account means the Special Account in the Nominal Insurer Fund established under section 127B of the Workers Rehabilitation and Compensation Act 1988.
As soon as practicable after the commencement day, the Nominal Insurer is to pay into the Fund the amounts standing to the credit of the Special Account in the Nominal Insurer Fund on the commencement day, less $100 000.
If the Nominal Insurer is not able to pay into the Fund an amount that is, on the commencement day, standing to the credit of the Special Account in the Nominal Insurer Fund because the amount may not be withdrawn immediately by the Nominal Insurer from an account or investment, the Nominal Insurer is to pay the amount into the Fund as soon as practicable after the amount may be so withdrawn.
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