New South Wales Consolidated Regulations

WORKERS COMPENSATION REGULATION 2003 - REG 48B

48B Administration fees and late payment fees for exempt employers

(1) The amount of $175 is prescribed as the administration fee payable under section 155AA (5) of the Act.

(2) The Nominal Insurer may serve a notice in writing on an employer to whom section 155AA (5) of the Act applies notifying the employer that the administration fee referred to in that subsection is due and payable.

(3) The administration fee referred to in subclause (2) must be paid by the employer within one month of the service of the notice.

(4) A late payment fee calculated at the interest rate referred to in section 22 of the Taxation Administration Act 1996 is payable if an administration fee is not paid within the one month period referred to in subclause (3).

(5) The Authority may waive payment (either in full or in part) of an administration fee or late payment fee payable under section 155AA of the Act.

(6) The Nominal Insurer is to pay any administration fees and late payment fees it has received under section 155AA of the Act into the Insurance Fund. Administration fees paid into the Insurance Fund are to be treated as premiums payable under policies of insurance.