165Refund of moneys recovered or otherwise received by Nominal

165 Refund of moneys recovered or otherwise received by Nominal Insurer (1) All moneys recovered by the Nominal Insurer in respect of a claim referred to in section 137(1): (a) by virtue of its exercising the rights of the approved insurer under that section; (b) by virtue of its exercising a right of subrogation referred to in section 137(3)(a); or (c) under an agreement, contract, treaty or other document relating to reinsurance referred to in section 137(3)(c), and all moneys received as a result of the winding up of a company that was an approved insurer required under section 164A to pay an amount to the Nominal Insurer shall, at such times as the Minister determines, be paid to the approved insurers (other than the defaulting insurer) and self-insurers by whom contributions under section 164A were paid for the purpose of meeting the Nominal Insurer's liability under this Act or the repealed Act arising out of the default of the defaulting insurer, in the same proportions as those contributions were made or, at the direction of the Minister, the amounts payable under this section to the approved

Return to Work Act 1986 140 insurers and self-insurers shall be credited against their respective obligations under section 164A to pay instalments referred to in that subsection that are uncalled. (2) The Minister may, in writing, authorise the Nominal Insurer to repay to the approved insurers and self-insurers in the proportions in which they contributed to the Fund in or in relation to the relevant year, any surplus money of the Fund contributed in pursuance of section 164A of this Act or section 16Q(6) of the repealed Act but not required for the purposes for which it was contributed, and the Nominal Insurer shall repay those amounts accordingly.