15Consequences of revocation of licence—eligible corporations

15 Consequences of revocation of licence—eligible corporations

(2) If the licence authorised the licensee to accept liability under the Act for payments in respect of injury, loss or damage suffered by, or the death of, any of its employees: (a) the licensee ceases to be liable under the Act for payments in respect of any injury, loss or damage suffered by, or death of, an employee occurring on or after the date when the licence is revoked; and (b) the licensee remains liable under the Act for payments in respect of injury, loss or damage suffered by, or the death of, an employee occurring before the licence was revoked. (3) If the licence authorised the licensee to accept responsibility to manage claims: (a) the licensee must manage a claim in respect of an injury, loss or damage suffered by, or the death of, an employee occurring before the revocation; and (b) the licensee must not manage a claim in respect of any injury, loss, damage or death occurring on or after the date of revocation; and (c) the licensee remains a party to proceedings in respect of any matter arising under the Act that had not been completed on the date of revocation. (4) Except as provided by subregulations (2) and (3): (a) the Act ceases to apply to the licensee and its employees; and (b) the laws of the States and Territories providing for workers’ compensation apply to the licensee.