11BRecoupment to Supplementary Fund

11B Recoupment to Supplementary Fund

11B Recoupment to Supplementary Fund

(1) In this section, quarter means any of the following successive periods of 3 months—

(a) January, February and March,

(b) April, May and June,

(c) July, August and September,

(d) October, November and December.

(2) Forthwith after the conclusion of each quarter, the Self Insurance Corporation shall serve on the Secretary and Comptroller of Accounts, the Treasury, a notice requiring payment to the Self Insurance Corporation of the amount, if any, required to be specified in the notice in relation to the quarter by subsection (3).

(3) The amount required to be specified in a notice served under subsection (2) in relation to a quarter is the sum of—

(a) the total of the amounts of all benefits paid by the Self Insurance Corporation out of the Supplementary Fund during the quarter, other than any such amount included in a notice served under subsection (2) in relation to a preceding quarter,

(b) the total of the amounts of all benefits determined by the Self Insurance Corporation in the quarter to which the notice relates to be payable by the Self Insurance Corporation after the expiration of the quarter to which the notice relates, and

(c) the costs, estimated by the Self Insurance Corporation, of administering the Supplementary Fund during the quarter to which the notice relates in so far as those costs relate to enrolled student participants of schools and enrolled participants of the Department,

reduced by the amounts, if any, recovered by the Self Insurance Corporation pursuant to section 35A during the quarter to which the notice relates.

s 11B: Ins 1984 No 65, Sch 1 (6). Am 2015 No 19, Sch 9 [12]–[14].