120Application for approval to self-insure

120 Application for approval to self-insure (1) An employer may apply in writing to the Authority for approval to self-insure for the purposes of this Act. (2) The Authority may, in its absolute discretion, by notice in writing to the employer, approve an employer who has under subsection (1) applied for approval, on any conditions the Authority considers appropriate, or refuse to approve the employer. (3) Without limiting its discretion under subsection (2), the Authority shall, before approving or refusing to approve an employer to self- insure, take into consideration: (a) the employer's ability to provide the necessary service; (b) the financial viability of the employer; (c) the employer's ability to provide the statistical and other information required or likely to be required under this Act; and (d) such other matters as are prescribed.