Victorian Consolidated Legislation

Accident Compensation Act 1985 - SECT 23A

Existing authorised insurers

23A. Existing authorised insurers



(1) The Authority must before the commencement of section 12 of the Accident
Compensation (Amendment) Act 1998 offer to each corporation who is the holder
of a licence to be an authorised insurer under the
Accident Compensation (WorkCover Insurance) Act 1993 immediately before the
commencement of section 20(5) of the Accident Compensation (Amendment) Act
1998 an appointment as an authorised agent under section 23 in accordance with
this section.

(2) The instrument of appointment must-

   (a)  provide that the corporation is authorised to act on behalf of the
        Authority in the issuing of WorkCover insurance policies, the
        collection of premiums and the administration of claims, subject to
        such terms, conditions and limitations as are specified;

   (b)  subject to any termination provisions, be for a minimum period equal
        to the unexpired term of the licence held by the corporation as at the
        commencement of section 12 of the Accident Compensation (Amendment)
        Act 1998;

   (c)  contain terms and conditions as to remuneration which are certified by
        the Minister as being no less favourable than the terms and conditions
        as to remuneration which apply in relation to the licence to be an
        authorised insurer;

   (d)  include any other terms and conditions required for the purposes of
        section 23.

Division 2-Board of Management