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.

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