Workers Rehabilitation and Compensation Act 1988
148Temporary advances to Fund
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148 Temporary advances to Fund
(1) [Section 148 Subsection (1) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] Where, at any time, the amount of the Fund is insufficient to meet a payment required under section 145 (3) to be made from the Fund, the Treasurer may make temporary advances to the Fund from the Public Account.
(2) [Section 148 Subsection (2) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] The Public Account is appropriated to the extent necessary for the purpose of subsection (1) .
(3) [Section 148 Subsection (3) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] Where a temporary advance is made under this section from the Public Account, the amount of the advance, together with interest at such rate as the Treasurer determines, shall be a first charge on the Fund and shall be paid into the Public Account progressively as money is paid into the Fund.
(4) [Section 148 Subsection (4) amended by No. 4 of 2017, Sched. 1, Applied:01 Jul 2019] The amount required to be contributed by licensed insurers and self-insurers pursuant to section 147 shall be sufficient to ensure that any temporary advance made to the Fund by the Treasurer is repaid to the Public Account within 5 years from the day on which the temporary advance is made.