WORKERS COMPENSATION REGULATION 2003 - REG 56 Prescribed contribution payable by insurer

This legislation has been repealed.

WORKERS COMPENSATION REGULATION 2003 - REG 56

56 Prescribed contribution payable by insurer

For the purposes of section 220 (2) of the Act, the prescribed percentage of the premium income of an insurer for a financial year specified in Column 1 of the Table to this clause is the percentage specified in Column 2 of that Table opposite that year.

Table

	Column 1	Column 2
	Financial Year	Percentage of premium income
1	Financial year commencing 1 July 1987	8.5 per cent
2	Financial year commencing 1 July 1988	10.5 per cent
3	Financial year commencing 1 July 1989	5 per cent
4	Financial year commencing 1 July 1990:
	(a) in the case of a specialised insurer	5 per cent
	(b) in the case of an insurer other than a specialised insurer	NIL
5	Financial years commencing 1 July 1991 and 1 July 1992	7 per cent
6	Financial years commencing 1 July 1993 and 1 July 1994	4 per cent
7	Financial year commencing 1 July 1995 and any subsequent financial year	NIL