8Calculation of required deposit: section 172A of Act

8 Calculation of required deposit: section 172A of Act

8 Calculation of required deposit: section 172A of Act

The required deposit for an employer in relation to a policy of insurance is to be calculated in accordance with the following formula:

(a) on or before the third adjustment date:

(b) after the third adjustment date:

where:

RD is the required deposit in respect of the period of insurance to which the policy relates.

T is the basic tariff premium for the employer, calculated with respect to the period of insurance in accordance with the relevant General Order.