551Incentive agreements to improve employer performance

551 Incentive agreements to improve employer performance S. 551(1) amended by No. 44/2014 s. 24(24). (1) Without limiting the powers conferred on the Authority, for the purpose of carrying out its functions under section 493(1)(q), the Authority may do any of the following— (a) enter into agreements with any person or body and may agree to pay money under the agreement to any person or body; (b) require anyone seeking to enter into such an agreement to meet specified criteria or to successfully complete an approval or application process; (c) impose fees in relation to an approval or application process; (d) in agreeing to the payment of money under an agreement, base the amount to be paid on factors relevant to the calculation of premium. The Authority may agree to pay a representative of a group of employers an annual amount that represents the difference between the amount the group paid collectively in premiums in the previous year and the amount of premium that it is likely would have been paid in that year had the group of employers been a single employer. Under this scheme each employer would still have to pay the premium in respect of the year that he, she or it would normally have to pay. (2) Nothing in this section authorises the Authority to agree to waive or reduce the amount of premium an employer is liable to pay but the Authority may make payments in the nature of a refund of premium. Pt 13 Div. 2A (Heading and s. 551A) inserted by No. 8/2024 s. 22.