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This is a formal clause which provides for the citation of the Bill. The Bill when passed may be cited as the Motor Accidents (Compensation) Commission Act 2014.
Clause 2. Commencement
This clause provides that the Act will commence on the commencement of Section 46 of the Territory Insurance Office (Sale) Act. In practice this means that the Act will commence on the repeal of the Territory Insurance Office Act.
Clause 3. Definition
This clause defines the terms used in the Act.
Clause 4. Application of Part IIAA of Criminal Code.
This clause provides that Part IIAA of the Criminal Code applies to an offence against the Act. Part IIAA of the Criminal Code states the general principles of criminal responsibility, establishes general defences, and deals with burden of proof. It also defines, or elaborates on, certain concepts commonly used in the creation of offences.
Part 2. Motor Accident (Compensation) Commission
Clause 5. Motor Accident (Compensation) Commission
This clause provides The Territory Insurance Office (established by section 4 of the Territory Insurance Office Act) continues as the same corporate entity under the name of the Motor Accidents (Compensation) Commission.
The clause further provides that the Commission is a body corporate with perpetual succession, may own and deal with property/ and may sue and be sued. The Commission is constituted by the Commissioner and any Associate Commissioners. The clause provides if there is no Commissioner or Associate Commissioner (and no persons have been appointed to act in those positions) by the Chief Executive Officer (as defined in the Act).
Clause 6. Motor Accidents (Compensation) Commissioner and Associate Commissioners
This clause provides that the Minister may, by Gazette notice, appoint a person to be the Motor Accidents (Compensation) Commissioner and a person to be an Associate Motor Accidents (Compensation) Commissioner. The clause provides that the Commissioner and any Associate Commissioners hold office on the conditions (including remuneration, expenses and allowances) determined by the Minister.
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Clause 7. Functions of the Commission
This clause provides that the Commission has the functions of (i) administering the MAC Scheme; (ii) managing the Fund (iii) promoting road safety; and (iv) performing any other function conferred on it under an Act.
Clause 8. Powers of Commission
This clause provides that, in the performance of its functions, the Commission has all the powers of an individual.
Clause 9. Delegation
This clause provides that the Commission may delegate any of its powers and functions under this or any other Act. The clause further provides that when a delegation is made to a non-government delegate it must be made under a written contract, and the contract must be approved by the Minister. The clause also provides that a contract made under section 9 of the Territory Insurance Office (Sale) Act is taken to be a contract of delegation to a non-government delegate.
Clause 10. Ministerial Direction
This clause provides that in exercising its powers and performing its functions, the Commission is subject to the direction of the Minister. The clause further provides that the Commission must include in its annual report for a financial year details of each direction given during the year.
Clause 11. Business or trading names
This clause provides that he Commission may use and operate under one or more business or trading names approved by the Minister.
Clause 12. Common seal
This clause provides that he Commission must have a common seal. The seal must not be used except with the authority of the Commission. A document purporting to bear the common seal of the Commission is taken to have been duly executed by the Commission, in the absence of evidence to the contrary
Clause 13. Proceedings of Commission when constituted by 2 or more persons
This clause applies if the Commission is constituted by 2 or more persons. It provides that the Commissioner is the chairperson of the Commission and that the Commission may conduct its proceedings (including meetings) in the way it considers appropriate.
Clause 14. Staff and facilities
This clause provides that the Chief Executive Officer (as defined) must provide the Commission with staff and facilities to enable it to properly carry on the MAC business, an properly perform its other functions. The clause further provides that the Chief Executive Officer may charge the Commission the reasonable cost of providing staff and facilities, and any amounts so charged are to be paid out of the Fund.
Clause 15. Protection from liability
This clause provides that a person is not civilly or criminally liable for an act done or omitted to be done by the person in good faith in the exercise of a power or performance of a function as the Commissioner or an Associate Commissioner. The clause provides, in addition, the person is not civilly or criminally liable for an act done or omitted to be done by the Commission in the exercise of a power or performance of a function under this Act. However, the clause provides that this does not affect any liability the Territory or the Commission would, apart from those subsections, have for the act or omission.
Part 3. Motor Accidents (Compensation) Fund
Clause 16. Motor Accidents (Compensation) Fund
This clause provides that the Motor Accidents (Compensation) Fund established by the Territory Insurance Office Act is continued, and sets out that the assets of the Fund are the property of the Territory.
Clause 17. Amounts paid into and out of the Fund
This clause provides what amounts are to be paid into and out of the Fund.
Clause 18. Reimbursement of cost of public health services
This clause provides for the reimbursement to the Territory of the costs of providing public health services to MAC claimants.
Clause 19. Prudential supervision fee
This clause provides for the payment of a fee to the Territory to cover the costs of prudential regulation of the MAC Scheme.
Clause 20. Payment of surplus to the Territory
This clause provides for the payment of surplus funds of the Scheme to the Territory, subject to the Minister tabling a copy of the Direction to the Commission within 6 sitting days of directing it to pay the surplus monies to the Territory.
Part 4. Management matters
Clause 21. Financial records
This clause provides that the Commission must keep financial records for at least 7 years that correctly record and explain its transactions, financial position and performance, and enable a true and fair financial statements to be prepared and audited.
Clause 22. Annual report and audit
This clause provides that the Commission must prepare an annual report each financial year and that the report must be provided to the Minister within 4 months of the en of the financial year. The clause provides that the annual report must conform to the requirements of the Corporations Act, include a separate report for the MAC business and the Commission as a whole and include all information that is required to enable an informed assessment of the Commission’s operations. The annual report and audit report must be tabled within 6 sitting days of the Minister receiving them.
Clause 23. Financial Management Act does not apply
This clause provides that the Financial Management Act does not apply to the Commission or the Fund.
Clause 24. Provision of information to the Minister
This clause provides that The Commission must give to the Minister information within its possession or control when requested by the Minister to do so. The clause further provides that, if the Commission considers that any of the information should be treated as confidential, it must advise the Minister of that opinion and the reasons for it.
Clause 25. Treasurer’s Determinations
This clause provides that he Treasurer may make Determinations in relation to: prudential standards; monitoring and enforcing prudential standards; standards of governance; and the prudential supervision fee. In making a Determination, the Treasurer must consult with and have regard to any comments made by the Commission. Any Determinations made must be notified in the Gazette, and a Determination must not commence before its notification in the Gazette. Finally the clause provides that a Determination may apply, adopt or incorporate any or all of the provisions of an instrument as in force or existing from time to time.
Clause 26. Assumptions when dealing with Commission
This clause provides that Sections 52 (other than section 52(1)(d)) and 53 of the Government Owned Corporations Act apply to the Commission as if it were a Government owned corporation.
Clause 27. Guarantee
This clause provides that all liabilities of the Commission in relation to the MAC business are guaranteed by the Territory, ad that any amount payable under the guarantee is payable from the Central Holding Authority, which is appropriated accordingly.
Part 5. Miscellaneous matters
Clause 28. Confidentiality of information
This clause provides that a person commits an offence if the person obtains information in the course of performing functions connected with the administration of this Act and the person engages in conduct that results in the disclosure of the information. However, the clause provides that no offence is committed if the person discloses the information: for the administration of this Act; or with the consent of the person to whom the information relates; or for legal proceedings arising out of the operation of the Act; or for the proper performance of the Minister's ministerial functions and duties; or the information is otherwise available to the public.
Clause 29. Regulations
This clause provides that the Administrator may make regulations under the Act.
Part 6. Amendment of other laws
Division 1 Winding up of insurance business
Clause 30. Residual assets and liabilities etc.
This clause provides for the Commission has the function of winding up the residual insurance business.
The clause further provides that, except to the extent that the Corporations Act 2001 expressly binds the Crown, the Commission, in performing a function or exercising a power under this section, is declared to be an excluded matter for the purposes of section 5F of the Corporations Act 2001 in relation to the whole of the Corporations legislation to which Part 1.1A of that Act applies.
Division 2 Winding up of banking business
Clause 31. Definitions
This clause defines certain terms used in the Division.
Clause 32. Commission to carry on banking business prior to sale
This clause applies if the Act commences before the banking sale date. The clause provides that the Commission has the function of carrying on what was TIO's banking business until the banking sale date.
Clause 33. Commission to wind up residual banking business
This clause provides that Commission has the functions of carrying on the residual banking business until all residual deposits have been repaid and winding up the residual banking business. If the Act commences before the banking sale date, this section does not apply until the banking sale date.
Clause 34. Assets and liabilities of MACC banking business
This clause provides that the moneys of, and all debts and other moneys owing to, the Commission in relation to the MACC banking business are the property of the Territory and are held, and may be recovered, by the Commission on behalf of the Territory.
The clause provides that the Commission must not use those moneys for any purpose other than the carrying on of the MACC banking business. Within 3 months after the last residual deposit is repaid to the depositor the Commission must pay the moneys standing to the credit of the account to the Central Holding Authority.
Clause 35. Guarantee by the Territory
This clause provides that the Territory guarantees the repayment of, and the interest payable on the deposits of TIO that are held by the Commission (if the Commission holds these prior to the banking sale date), and the residual deposits. However, the clause further provides that the clause expires on 31 March 2015.
Clause 36. Annual report
This clause provides that the Commission's annual report must include a separate report for the MACC banking business.
Clause 37. Treasurers Determinations
This clause provides that the Treasurer may make determinations about prudential standards that apply in relation to the MACC banking business or relate to the performance of the Commission’s functions in relation to the MACC banking business. The clause further provides that the Treasurer may charge a prudential supervision fee of an amount determined in accordance with the Determinations.
Clause 38. Application of Corporations Act 2001
This clause provides that except to the extent that the Corporations Act 2001 expressly binds the Crown, the Commission, in carrying on the MACC banking business, is declared to be an excluded matter for the purposes of section 5F of the Corporations Act 2001 in relation to the whole of the Corporations legislation to which Part 1.1A of that Act applies.
Clause 39. References to TIO include Commission
This clause provides that references in any of the named sections to Territory Insurance Office is taken to be a reference to the Commission.
Division 3 General matters
Clause 40. Definitions
This clause defines certain terms used in the Division.
Clause 41. Annual report
This clause provides that the first annual report of the Commission must include a report on the operations of TIO from the end of its previous annual report until the sale of its businesses.
Clause 42. Treasurer’s determinations
This clause provides that any Determinations in force under the section 33A of TIO Act before the commencement of this Act will continue in force as Determinations under this Act.
Clause 43 Continuation of ongoing matters
This clause provides that Anything done or omitted to be done by, to, or in relation to, TIO before the commencement that is of ongoing effect is to be taken, after the commencement, to have been done or omitted to be done by, to, or in relation to, the Commission. In addition, the clause provides that If the thing was done for the purpose of a particular provision of the TIO Act, it is to be taken to have been done for the purposes of the equivalent provision in this Act.