8Specific functions in relation to Government managed fund schemes

8 Specific functions in relation to Government managed fund schemes

8 Specific functions in relation to Government managed fund schemes

(1) The Self Insurance Corporation has the following functions with respect to Government managed fund schemes—

(a) to operate one or more Government managed fund schemes (including the function of establishing, reorganising, amalgamating, dividing or winding up such schemes),

(b) to enter into agreements or arrangements with other persons to provide services (as agents or otherwise) in relation to the operation of any Government managed fund scheme,

(c) to enter into insurance or other agreements or arrangements (including by providing indemnities) to cover the liabilities to which a Government managed fund scheme applies,

(d) to act for the State, an authority of the State or an eligible State official in dealing with claims under a Government managed fund scheme (including the recovery of amounts payable to the State, an authority of the State or an eligible State official in connection with such claims).

(2) In exercising its functions under subsection (1) (c), the Self Insurance Corporation may enter into contracts of insurance as the insured but not as the insurer.

Note—

The Self Insurance Corporation may, for example, obtain insurance from another insurer to cover its own liabilities in providing cover under a Government managed fund scheme. However, it may not provide insurance to the State or any authority of the State or eligible State official whose liabilities are covered by such a scheme. Their liabilities may be managed by means of other agreements and arrangements, including by the provision of indemnities.

(2A) To avoid doubt, the Self Insurance Corporation may exercise its functions under subsection (1) (d) by acting for a person who is a former eligible State official in dealing with claims under a Government managed fund scheme relating to the person’s acts or omissions when the person was an eligible State official.

(3) Nothing in the State Owned Corporations Act 1989 (including clauses 5 and 6 of Schedule 10 to that Act) prevents the Self Insurance Corporation from providing indemnities to, or entering agreements or arrangements with, a director or other officer (or any other person concerned, or taking part, in the management) of a State owned corporation to cover the liabilities of such a director, officer or person.