WORKERS COMPENSATION ACT 1951 - SECT 167B Borrowing for DI fund

WORKERS COMPENSATION ACT 1951 - SECT 167B

    (1)     The Treasurer may, on the conditions the Treasurer considers appropriate—

        (a)     borrow money for the DI fund; or

        (b)     lend public money to the DI fund.

    (2)     The Treasurer may borrow money for the DI fund or lend money to the DI fund to meet the costs of claims against the DI fund only if—

        (a)     the costs, or the amount of the costs, are unexpected; and

        (b)     either—

              (i)     the costs cannot be met through the apportionment of liability under section 168A or section 168AA; or

              (ii)     the Treasurer is satisfied that it is not appropriate to meet the costs through the apportionment of liability under section 168A or section 168AA.

    (3)     Borrowing for the DI fund may be secured by the DI fund's assets that are approved in writing by the Treasurer.

    (4)     The DI fund manager may only arrange an overdraft or credit facility for the DI fund with the Treasurer's written approval.

    (5)     A loan under subsection (1) (b) may be made only from—

        (a)     money appropriated for the loan; or

        (b)     money appropriated for purposes that include making the loan.