401Arrangements for payments in respect of liability for tail claims

401 Arrangements for payments in respect of liability for tail claims

(1) The Minister may, by notice published in the Government Gazette, make a Ministerial Order regarding the arrangements that are to apply where—

(a) in accordance with section 395 or 396, an employer, as a self-insurer, assumes liability for its tail claims; or

(b) in accordance with section 397, a self-insurer assumes liability for the tail claims of an employer to which section 434 applies that is a body corporate that becomes an eligible subsidiary of the self-insurer.

(2) Without limiting subsection (1), the Ministerial Order may specify—

(a) the method of calculating a settlement amount that must be paid by the Authority to the self-insurer; and

(b) the manner in which the amount is to be paid.

(3) The Authority must make payment to the self‑insurer of a settlement amount in accordance with the Ministerial Order.