513WorkCover Authority Fund

513 WorkCover Authority Fund S. 513(1) amended by No. 44/2014 s. 24(23). (1) The WorkCover Authority Fund established under section 32 of the **Accident Compensation Act 1985** as in force immediately before 1 July 2014 continues in existence. (2) The Authority must maintain the WorkCover Authority Fund. (3) There must be paid into the Fund— (a) any amount received or recovered by or on behalf of the Authority as a fee or as a penalty for an offence under this Act, the **Accident Compensation Act 1985**, the **Workers Compensation Act 1958**, the **Occupational Health and Safety Act 2004**, the **Equipment (Public** **Safety) Act 1994** or the **Dangerous Goods Act 1985** or any regulations under any of those Acts, unless the regulations expressly provide otherwise; and (b) any amount certified by the Treasurer, after consultation with the Minister, as a contribution to the costs and expenses of or incidental to the administration by the Authority of the **Occupational Health and Safety Act 2004**, the **Equipment (Public Safety) Act 1994** and the **Dangerous Goods Act 1985**; and (c) any income from the investment of any money credited to the Fund and the proceeds of the sale of any investment; and (d) any money that the Authority borrows; and (e) any money required or permitted to be paid into the Fund under this Act or any other Act; and (f) all other money that the Authority receives under or for the purposes of occupational health and safety, accident compensation or occupational rehabilitation; and (g) premiums and any other amount or penalty paid in accordance with Part 10; and (h) all other money that the Authority receives under or for the purposes of this Act or any other Act. (4) The Consolidated Fund is appropriated to the necessary extent for the purposes of subsection (3)(b). (5) There may be paid out of the Fund— (a) payments of compensation or any other payments required under this Act or any other Act or under any regulation made under this or any other Act to be paid out of the Fund; and (b) payments to the Consolidated Fund of amounts certified by the Treasurer, after consultation with the Minister, representing the costs incurred, or to be incurred, annually by the Ombudsman in enquiring into or investigating administrative actions in accordance with the **Ombudsman Act 1973** of the Authority, authorised agents and self‑insurers under this Act and the **Accident Compensation Act 1985** and of delegates in administering claims under the **Workers Compensation Act 1958**; and (c) payments to the Consolidated Fund of amounts certified by the Treasurer, after consultation with the Minister, representing the costs incurred, or to be incurred, annually by the County Court, the Magistrates' Court or VCAT arising out of the operation of this Act, the **Accident Compensation Act 1985** or the **Workers Compensation Act 1958**; and (d) any payment required or authorised to be made or which is for or towards the costs and expenses of or incidental to the performance of the functions or the exercise of the powers of the Authority; and (e) any payment of an amount under section 515 or 516; and (f) the remuneration (including allowances) of members of the Board and staff of the Authority and, where appropriate, any member of the WorkCover Advisory Committee under Division 3 or the Occupational Health and Safety Advisory Committee (within the meaning of the **Occupational Health and Safety Act 2004**); and S. 513(5)(g) substituted by No. 73/2016 s. 14. (g) any payment required to meet the obligation imposed on the Authority by section 537B to fund Medical Panels; and (h) any remuneration payable to authorised agents and any payment whether for the whole or part of the cost of studies or programs approved by the Authority carried out or developed for or in respect of employers or industries by authorised agents appointed under section 501; and S. 513(5)(i) amended by No. 73/2016 s. 21(14). (i) any payment required to meet the obligation imposed on the Authority by section 536D to fund ACCS; and (j) amounts required for the repayment of borrowings by the Authority and for the payment of interest payable in respect of such borrowings; and (k) any payment arising under or in connection with a premiums order; and (l) any other costs and expenses incurred by the Authority under this Act or any other Act. (6) For the purposes of this section, the Authority may open and maintain one or more accounts in the name of the Authority with any ADI. (7) The Authority may invest any money standing to the credit of the WorkCover Authority Fund in accordance with the powers conferred on it under the **Borrowing and Investment Powers Act 1987**. (8) If money is invested in accordance with subsection (7) in the purchase of land or the construction or alteration of buildings, the whole or part of the land or buildings may be used by the Authority in connection with its powers, duties or functions under this Act or any other Act.