129LExtension of policies

129L Extension of policies (1) When a contributing insurer has entered into a contract or arrangement for a policy of insurance or for re-insurance in respect of or in relation to its liability to indemnify an employer under the terms of a policy of insurance for compensation payable by the employer under the **Workers Compensation Act 1958** and the contributing insurer pays an amount by reason of an assessment made under this Division, the payment, for the purposes of the policy and the contract or arrangement for a policy of insurance or for re-insurance, shall be deemed— (a) to be a payment by the insurer in satisfaction of or by reason of its liability to indemnify the employer under the terms of the policy; and (b) to have been a payment in respect of compensation payable by the employer under the **Workers Compensation Act 1958** as if the contribution injury resulting in the assessment was an injury or disease for which compensation was payable and paid under that Act. (2) If a contributing insurer is not entitled to recover any sum under any contract or arrangement for a policy of insurance or for re-insurance in respect of a payment of an amount by reason of an assessment, that matter shall not be regarded as a relevant matter by the Tribunal upon a review under this Division. S. 129M inserted by No. 13/1988