Commonwealth Numbered Acts

SEAFARERS REHABILITATION AND COMPENSATION ACT 1992 No. 234, 1992 - SECT 96

96. The Minister may, by notice published in the Gazette, approve a trading
corporation to be the Fund for the purposes of this Act if the Minister thinks
that the following conditions are satisfied in relation to the trading
corporation:

   (a)  its participants represent not less than 80% of the seafarer berths on
        all prescribed ships;

   (b)  it has the management and resources to:

        (i)    quickly process and determine claims for compensation under
               this Act; and

        (ii)   develop and manage rehabilitation plans under this Act;

   (c)  subject to section 97, it has access to sufficient funds to enable the
        prompt settlement of all liabilities that might arise under this Act.