(1) A party to a commutation agreement may apply to the President for
registration of the agreement by the President.
Note : Section 87F (6)
provides that a commutation agreement is of no effect unless and until it is
registered.
(2) The President must refuse to register a commutation agreement
unless satisfied that the requirements of section 87F (2) have been complied
with in respect of the agreement.
(3) Before registering a commutation
agreement, the President may (on the application of a party to the agreement
or of the President's own motion) refer the agreement for review by the
Commission. The President is not to register the agreement if the Commission
recommends that the agreement not be registered.
(4) The Commission reviewing
a commutation agreement may recommend to the President that the agreement not
be registered if the Commission considers that the agreement is inaccurate or
that the lump sum to which a liability has been commuted by the agreement is
inadequate.
(5) In reviewing a commutation agreement, the Commission may have
regard to the following matters--
(a) any dispute as to liability to pay
compensation under the Workers Compensation Acts,
(b) the injury, the age of
the worker, the general health of the worker, and the occupation of the worker
at the time of the occurrence of the injury,
(c) the worker's diminished
ability to compete in an open labour market,
(d) other benefits that the
worker may be entitled to from any other source.
(6) The registration of a
commutation agreement may not be cancelled except within such period after the
agreement is registered, and in such manner, as may be authorised by the
regulations.
(7) This section has effect despite section 234 of the 1998 Act
(No contracting out).
(8) This section does not prevent a commutation
agreement containing provision as to the payment of costs.
