376Application for approval as self-insurer

376 Application for approval as self-insurer (1) Subject to subsection (2), a body corporate that is an employer may apply in writing to the Authority for approval as a self-insurer for— (a) workers employed by the body corporate; and (b) if the body corporate is a holding company, workers employed by eligible subsidiaries of the body corporate, other than a subsidiary that is a non-WorkCover employer. (2) A body corporate may only make an application under subsection (1) if— (a) a determination by the Authority under section 375 is in force stating that the body corporate is eligible to apply for approval as a self-insurer; or (b) the application is for the renewal of approval as a self-insurer and the body corporate is— (i) a self-insurer; and (ii) not a subsidiary of another body corporate (other than a foreign company within the meaning of the Corporations Act that, when the application is made, is not a registered foreign company within the meaning of that Act); or (c) the Authority has determined that the body corporate will imminently cease to be an eligible subsidiary of another body corporate that is currently approved as a self-insurer. (3) The MAV may apply in writing to the Authority for approval as a self-insurer for— (a) workers employed by it; and (b) workers employed by local government corporations which are proposed to be participating corporations. (4) An application under this section must be accompanied by any information required by the Authority and the fee calculated in accordance with Schedule 7. Under section 395(1), an employer may, in its application for approval as a self-insurer, elect to assume liability for, and responsibility for management of, its tail claims. (5) In the case of an application by the MAV, the application must also be accompanied by— (a) a copy of the proposed scheme of self-insurance; and (b) the name of the local government corporations which are proposed to be participating corporations. (6) An application under this section remains valid for a period of 12 months from the date the application is received by the Authority or, if the Authority determines that a longer period should apply, that longer period.