382Period that approval has effect

382 Period that approval has effect (1) An approval of an employer as a self-insurer takes effect from the date determined by the Authority and notified in writing to the employer. (2) Unless revoked sooner, the approval of an employer as a self-insurer has effect for— (a) in the case of an employer that is not a self‑insurer immediately before the date the approval takes effect, a period of 3 years; and (b) in the case of an employer that is a self‑insurer immediately before the approval takes effect, a period of 4 years, unless the Authority in its discretion determines that the approval has effect for a period of 6 years. (3) If an employer that is approved as a self-insurer is undergoing a corporate restructure, the Authority in its discretion may extend the term of approval for a further period not exceeding 6 months. (4) If an employer that is approved as a self-insurer becomes the subsidiary of another body corporate, the Authority in its discretion may continue the term of approval until such date as is determined by the Authority but not later than 6 months after the date on which the approval of the employer as a self-insurer would otherwise cease.