97AMatters for consideration in determination of premium

97A Matters for consideration in determination of premium

(1) In determining the amount of the premium payable by an Entity or Commonwealth authority in respect of a financial year under section 97, Comcare must: (a) have regard to: (i) the prescribed amount; and (ii) any penalty amount or bonus amount; in relation to the Entity or authority and that year; and (aa) have regard to the principle that the amount that represents so much of available scheme funds as is attributable to: (i) premiums paid by the Entity or authority; and (ii) special premiums paid by the Entity or authority; and (iii) interest earned on the premiums and special premiums referred to in subparagraphs (i) and (ii); should, so far as practicable, be sufficient to meet Comcare’s liability (if any) under this Act (including liability under actions for non‑economic loss), in respect of injuries suffered: (iv) in the case of an Entity or an authority that does not hold a licence in force under Part VIII—by employees of the Entity or authority; and (v) in the case of an authority that holds such a licence—by employees of the authority in respect of whom the authority is not authorised to accept liability; and (b) comply with any guidelines issued by the Commission under section 97E in relation to the determination of premiums. (1A) For the purposes of paragraph (1)(aa): (a) liability includes prospective liability; and (b) assume that Comcare’s liability is not contingent on: (i) the making of a claim for compensation; or (ii) the giving of a notice under section 53. (2) In this section:

bonus amount, in relation to an Entity or a Commonwealth authority and a financial year, means the amount (if any) determined by Comcare to be an appropriate amount to be deducted from the prescribed amount in relation to the Entity or authority and that year, having regard to:

(a) the number of claims made by, or in relation to, employees of the Entity or authority in each previous financial year; and
(b) the amount of compensation paid to, or in relation to, such employees under this Act.

penalty amount, in relation to an Entity or Commonwealth authority and a financial year, means the amount if any, determined by Comcare to be an appropriate amount to be added to the prescribed amount in relation to the Entity or authority and that year, having regard to:

(a) the number of claims made by, or in relation to, employees of the Entity or authority in each previous financial year; and
(b) the amount of compensation paid to, or in relation to, such employees under this Act.

prescribed amount, in relation to an Entity or Commonwealth authority and a financial year, means the amount worked out in accordance with subsection (3) in relation to that Entity or authority and that year.