Victorian Consolidated Legislation

Accident Compensation (WorkCover Insurance) Act 1993 - SECT 28B

Adjustment of premium after section 28A review

28B. Adjustment of premium after section 28A review



(1) After conducting a review under section 28A, the Authority must determine-

   (a)  the reviewed assessment amount for the relevant period; and

   (b)  the total premium payment; and

   (c)  any deficit amount or excess amount.

(2) The Authority must, by notice in writing to the employer-

   (a)  specify-

   (i)  the amount determined to be the reviewed assessment amount and the
        total premium payment; and

   (ii) whether there is a deficit amount or an excess amount; and

   (b)  adjust the amount of the premium so that the amount is the reviewed
        assessment amount.





(3) In this section-

deficit amount means the amount by which the reviewed assessment amount
exceeds the total premium payment; excess amount means the amount by which the
total premium payment exceeds the reviewed assessment amount; premium has the
same meaning as in section 22(3); relevant period means the total period
specified in section 28A(2)(a) or 28A(2)(b); reviewed assessment amount means
the sum of the amounts which should have been calculated for each applicable
premium order for the relevant period; total premium payment means the total
amount paid as premium during the relevant period.