RETURN TO WORK ACT 2014 - SECT 135
RETURN TO WORK ACT 2014 - SECT 135
(1) The Compensation
Fund continues in existence and will continue to be maintained by the
Corporation.
(2) The Compensation
Fund will consist of—
(a)
amounts received from the imposition of premiums, supplementary payments or
fees under this Part; and
(b) any
income and accretions produced by the investment of money from the Fund; and
(c) any
money advanced to the Corporation for the purposes of the Fund; and
(d)
other money received by the Corporation under this Act or in the
administration of this Act; and
(e) to
the extent provided by regulation—money received by the Corporation
under, or in the administration of, another Act.
(3) The Compensation
Fund will be applied towards—
(a) the
payments of compensation that the Corporation is liable to make under this
Act; and
(b) the
payments of damages for which the Corporation is liable to make on account of
indemnifying employers as their insurer under this Act (whether under
Part 5 or otherwise); and
(c) any
payment that the Corporation is required to make to a self-insured employer
under section 64; and
(d) the
costs incurred by the Corporation in performing its functions or discharging
any liability under this Act; and
(e) any
costs incurred by the Minister or the Crown if a decision or process of the
Minister under section 133 becomes the subject of judicial proceedings;
and
(f) a
contribution towards the system of dispute resolution under this Act
(including the costs associated with independent medical advisers) determined
by the Minister from time to time after consultation with the Treasurer and
the Corporation; and
(g) the
costs incurred by the Ombudsman in carrying out the Ombudsman's functions
under this Act; and
(h) a
contribution towards advocacy services for the benefit of injured workers
determined by the Minister from time to time after consultation with the
Corporation; and
(i)
any costs to be paid out of the Fund under another
provision of this Act (including any amounts to be paid out of the Return to
Work Facilitation Fund under Part 10); and
(j) to
the extent provided by regulation—the costs incurred by the Corporation
in carrying out its functions under another Act; and
(k) any
payment that the Corporation is required to make under section 27A of the
Return to Work Corporation of South Australia Act 1994 ; and
(l) any
payment that the Corporation is required to make under the Work Health and
Safety Act 2012 .
(4) The Corporation
may invest money that is not immediately required for the purposes of the
Compensation Fund as the Corporation thinks fit.
(5) Subject to
subsection (6), in deciding how to invest funds that are available for
investment, the Corporation must endeavour to achieve the highest possible
rates of return.
(6) The Corporation is
not required to comply with subsection (5) if the board unanimously
decides, in relation to certain funds, to invest those funds at a lesser rate
of return but so as to promote the economy of the State.