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WORKERS COMPENSATION REGULATION 2003 - REG 151A Staged closure of Premium Discount Scheme

This legislation has been repealed.

WORKERS COMPENSATION REGULATION 2003 - REG 151A

Staged closure of Premium Discount Scheme

151A Staged closure of Premium Discount Scheme

(1) Premium Discount Scheme is closed to new participants On and from the commencement of this clause no employer is entitled to commence participation in the Premium Discount Scheme.
(2) Premium Discount Scheme (General) closed The Premium Discount Scheme (General) strand of the Scheme is closed.
(3) An employer who was a participant in the Premium Discount Scheme (General) strand of the Scheme immediately before the commencement of this clause ceases to be such a participant on that commencement.
(4) For the avoidance of doubt, the Premium Discount Scheme (General) strand of the Scheme does not apply to any policy of insurance that is to be or has been issued or renewed so as to take effect on or after the commencement of this clause.
(5) One further verification permitted Despite subclause (3), an employer who was a participant in the Premium Discount Scheme (General) strand of the Scheme immediately before the commencement of this clause, who had passed at least one verification before that commencement, may, at any time after the commencement of this clause (but not later than 6 months following the expiration of the employer's policy of insurance in force immediately before that commencement), make one attempt to pass one further verification as if the employer were still a participant.
(6) If the employer passes a further verification as referred to in subclause (5), that verification may be used to confirm a previous verification that provisionally entitled the employer to a discount on the insurance premium payable with respect to the employer's last year of participation in the Scheme.
(7) The amount of premium discount to which an employer who passes a further verification as referred to in subclause (5) is entitled to is to be calculated in accordance with the relevant Insurance Premiums Order. For that purpose and despite any other provision of this Part, the PDA Rating of the PDA who verifies that the employer has passed the further verification is 15%.