South Australian Numbered Acts South Australian Numbered Acts170—Scheme funding/review events
(1) For the purposes of this section, a scheme funding/review event occurs if in respect of each of 2 consecutive financial years the Corporation has been operating at a funding level below 90% at a probability of sufficiency of 75%.
(2) If the Minister is satisfied on the basis of information contained in the Corporation's annual reports for 2 consecutive financial years that a scheme funding/review event has occurred, the Minister must initiate a review of the scheme under subsection (3).
(3) If the Minister initiates a review of the scheme under this section—
(a) the review must be undertaken by a person appointed by the Minister after consultation with the Corporation; and
(b) the review must examine—
(i) the level of benefits payable to workers under this Act, and the extent or level of services available or provided to workers under this Act; and
(ii) the costs to employers on account of payment of premiums under Part 9 Division 4 and the extent to which it would be appropriate to increase the average premium rate (including by the amendment of this Act to change the percentage specified in section 137); and
(iii) the sustainability of the Compensation Fund over the short to medium term; and
(iv) any other matter determined by the Minister; and
(c) the review must be completed within 12 months of the scheme funding/review event.
(4) On the completion of a review under this section—
(a) the outcome of the review must be embodied in a written report; and
(b) the Minister must cause a copy of the report to be laid before both Houses of Parliament within 12 sitting days after receiving the report.
Part 11—The Minister's Advisory Committee