New South Wales Consolidated Acts

SPORTING INJURIES INSURANCE ACT 1978 - SECT 11B

11B Recoupment to Supplementary Fund

(1) In this section, "quarter" means any of the following successive periods of 3 months:

(a) January, February and March,

(b) April, May and June,

(c) July, August and September,

(d) October, November and December.

(2) Forthwith after the conclusion of each quarter, the Committee shall serve on the Secretary and Comptroller of Accounts, the Treasury, a notice requiring payment to the Committee of the amount, if any, required to be specified in the notice in relation to the quarter by subsection (3).

(3) The amount required to be specified in a notice served under subsection (2) in relation to a quarter is the sum of:

(a) the total of the amounts of all benefits paid by the Committee out of the Supplementary Fund during the quarter, other than any such amount included in a notice served under subsection (2) in relation to a preceding quarter,

(b) the total of the amounts of all benefits determined by the Committee in the quarter to which the notice relates to be payable by the Committee after the expiration of the quarter to which the notice relates, and

(c) the costs, estimated by the Committee, of administering this Act during the quarter to which the notice relates in so far as those costs relate to enrolled student participants of schools and enrolled participants of the Department, including any interest paid to the Fund under section 11A (6) during that quarter,

reduced by the amounts, if any, recovered by the Committee pursuant to section 35A during the quarter to which the notice relates.