147Compulsory insurance—employers

147 Compulsory insurance—employers (1) This section applies if an employer does not hold a compulsory insurance policy issued by a licensed insurer. (2) However, this section does not apply to an employer if— (a) the employer is a licensed self-insurer; or (b) liability to pay compensation to a worker would be shared between the employer and either another employer or other employers and any of the other employers maintains a joint compulsory insurance policy for the joint liability of all the employers; or (c) the employer provides evidence that a State was the Territory or State of connection for the employment under the law of a State corresponding to part 4.2A (Employment connection with ACT or State); or (d) the employer had insurance, or was registered, as required under the law of the State in relation to liability for workers compensation under the law of the State; or (e) the employer is a prescribed employer and employs only prescribed workers. (3) The regulator may give the employer a notice (a default notice) requiring the employer to obtain a compulsory insurance policy within 10 business days after the day the notice is given to the employer (the compliance period). (4) If, at the end of the compliance period, the employer does not hold a compulsory insurance policy issued by a licensed insurer, the regulator may give the employer another notice (a 2nd default notice) requiring the employer to obtain a compulsory insurance policy within 10 business days after the day the notice is given to the employer (the 2nd compliance period). (5) If, at the end of the 2nd compliance period, the employer does not hold a compulsory insurance policy issued by a licensed insurer, the regulator may give the employer a notice (a cease business notice) directing the employer to stop conducting the employer’s business. (6) A cease business notice takes effect 5 business days after the day the notice is given to the employer.