South Australian Numbered Acts South Australian Numbered Acts28—Amendment of section 50—Corporation as insurer of last resort
(1)
Section 50(1)—delete "Where an exempt employer has ceased to be exempt"
and substitute:
If a self-insured employer has ceased to be registered as a self-insured
employer under this Act
(2)
Section 50(1)—delete "the exemption" and substitute:
that registration
(3)
Section 50(2)—delete subsection (2) and substitute:
(2) The Corporation
must undertake the liabilities of a formerly self-insured employer under
subsection (1) if the employer—
(a)
becomes insolvent; or
(b)
ceases to carry on business in the State and fails to make provision that
the Corporation considers adequate for dealing with claims, and meeting
liabilities and responsibilities related to compensable disabilities, arising
from employment during the period of the employer's registration as a
self-insured employer.