New South Wales Consolidated Acts

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MOTOR ACCIDENT INJURIES ACT 2017 - SECT 10.15

Assessment by Lifetime Care and Support Authority of amount to be contributed to MAITC Benefits Fund

10.15 Assessment by Lifetime Care and Support Authority of amount to be contributed to MAITC Benefits Fund

(1) The Lifetime Care and Support Authority is required, as soon as practicable in respect of each relevant period--
(a) to make an estimate of the total of the amounts to be paid from the MAITC Benefits Fund during that relevant period, and
(b) to determine what amounts, if any, are to be set aside as provisions to meet expenditure from the MAITC Benefits Fund in future periods, and specify for what purpose each such amount is being set aside, and
(c) to make an estimate of the total amounts (including the amounts already received) to be received into the MAITC Benefits Fund during that relevant period otherwise than by way of contributions in respect of that relevant period under this Division from persons to whom third-party policies are issued, and
(d) to determine the total amount to be contributed to the MAITC Benefits Fund under this Division in respect of that relevant period by persons to whom third-party policies are issued after having regard to the amounts likely to be standing to the credit of the MAITC Benefits Fund at the beginning of the period, including any amounts set aside in earlier periods as provisions to meet expenditure in later periods, and the amounts estimated under paragraph (c) to be received into the MAITC Benefits Fund during the relevant period, and
(e) to specify in writing the estimates, provisions and amounts to be contributed to the MAITC Benefits Fund by persons to whom third-party policies are issued.
(2) The regulations may make provision in relation to the determination of amounts for the purposes of subsection (1)(b) to be set aside for the exercise of the functions of the Lifetime Care and Support Authority relating to the administration of this Act as the relevant insurer under section 3.2(3).
(3) Without limiting subsection (2), the regulations may--
(a) require the Lifetime Care and Support Authority to disclose to the Authority information relating to--
(i) payments of statutory benefits for treatment and care that the Lifetime Care and Support Authority is required to make under Division 3.4, and
(ii) other significant matters that are likely to have a material financial impact on the motor accidents scheme under this Act, and
(b) authorise the Authority to determine maximum amounts that may be determined by the Lifetime Care and Support Authority in relation to the cost of claims handling.
(4) The Authority may only determine maximum amounts for the purposes of subsection (3)(b) if it is satisfied that the amounts are reasonable to enable the Lifetime Care and Support Authority to exercise its functions under this Act.
(5) The Minister is not to recommend the making of a regulation under subsection (2) or (3) unless the Minister certifies that--
(a) the Minister administering the Motor Accidents (Lifetime Care and Support) Act 2006 has been consulted about the proposed regulation, and
(b) the Lifetime Care and Support Authority has been consulted about the proposed regulation.



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