WORKERS COMPENSATION REGULATION 2003 - REG 60 Definition of "deemed premium income" for purposes of self-insurers' contributions

This legislation has been repealed.

WORKERS COMPENSATION REGULATION 2003 - REG 60

60 Definition of "deemed premium income" for purposes of self-insurers' contributions

(1) The prescribed circumstances referred to in the definition of "deemed premium income" in section 37 of the 1998 Act are the circumstances in which the amount payable as premiums referred to in that definition is calculated in the manner fixed by the insurance premiums order in force in respect of the relevant financial year.

(2) The amount defined as deemed premium income in section 37 of the 1998 Act in relation to the contribution payable by a self-insurer for any period during a financial year does not include:

(a) any amount attributable to the application of any factor other than the basic tariff premium that would have been payable as referred to in that definition in respect of that period, and

(b) any amount attributable to any GST that would have been payable in relation to the premiums on policies of insurance that the self-insurer would otherwise have been required to obtain under the Act had the self-insurer not been a self-insurer.

(3) Subclause (2) does not apply to any financial year to which clause 61 applies.