384Review of approval

384 Review of approval (1) The Authority, at any time, may review the approval of an employer as a self-insurer. (2) Without limiting subsection (1), the Authority may review the approval of an employer as a self‑insurer if— (a) the employer is a holding company approved as a self-insurer under this Part for workers employed by its eligible subsidiaries and it ceases to be the holding company in relation to any of those eligible subsidiaries; or (b) the employer is approved as a self-insurer for workers employed by an eligible subsidiary of the employer and that eligible subsidiary ceases to be an eligible subsidiary of the employer; or (c) an eligible subsidiary of the employer— (i) becomes a non-WorkCover employer; or (ii) ceases to be a non-WorkCover employer; or (iii) is partly acquired by another company; or S. 384(2)(ca) inserted by No. 48/2017 s. 32. (ca) the employer or an eligible subsidiary of the employer ceases to employ all of its workers; or (d) the employer acquires an eligible subsidiary; or (e) the employer acquires all the shares in a subsidiary in which it already holds shares; or (f) the employer ceases to hold all the shares in a subsidiary; or (g) the employer undergoes a corporate restructure; or (h) the employer acquires the assets or the employees of another company but not the company itself. (3) The Authority must review the approval of an employer as a self-insurer if— (a) the Authority is of the opinion that the employer is no longer capable of meeting its claim liabilities as and when they fall due; or (b) the employer becomes the subsidiary of another body corporate (other than a foreign company within the meaning of the Corporations Act that is not a registered foreign company within the meaning of that Act); or (c) having regard to the matters specified in section 379(4), the Authority is no longer satisfied that the employer is fit and proper to be a self-insurer. (4) The Authority must review the approval of an employer as a self-insurer if— (a) the employer is under official management, is commenced to be wound up or has ceased to carry on business; or (b) a receiver or receiver and manager is appointed in respect of the property or part of the property of the employer under the Corporations Act; or (c) the employer enters into a compromise or scheme of arrangement with its creditors; or (d) the employer is a target within the meaning of the Corporations Act. (5) If any of the circumstances referred to in subsection (2), (3)(b) or (4) occur in relation to a self-insurer, or an eligible subsidiary of a self‑insurer, the self-insurer must notify the Authority in writing within 28 days of the occurrence of the circumstances.