South Australian Repealed Acts South Australian Repealed ActsThis legislation has been repealed.
(1) Any of the
following liabilities may, by agreement between the worker and the
Corporation, be redeemed by a capital payment to the worker—
(a) a
liability to make weekly payments;
(b) a
liability to pay compensation under section 32
.
(2) An agreement for
the redemption of a liability under this section cannot be made unless—
(a) the
worker has received competent professional advice about the consequences of
redemption; and
(b) the
worker has received competent financial advice about the investment or use of
money to be received on redemption; and
(c) the
Corporation has consulted with the employer out of whose employment the injury
arose and has considered any representations made by the employer; and
(d) a
recognised medical expert has certified that the extent of the worker's
incapacity resulting from the compensable injury can be determined with a
reasonable degree of confidence; and
(e) 1
(or more) of the following requirements are satisfied in the case of a
proposed redemption under subsection (1)(a)
:
(i)
the rate of weekly payments to be redeemed does not
exceed $30 (indexed);
(ii)
the worker has attained the age of 55 years and the
Corporation has determined that the worker has no current work capacity;
(iii)
the Tribunal (constituted of a presidential member) has
determined, on the basis of a joint application made to the Tribunal by the
worker and the Corporation in contemplation of an agreement being entered into
under this section, that the continuation of weekly payments is contrary to
the best interests of the worker from a psychological and social perspective.
(3) The amount of the
redemption payment is to be fixed by the agreement.
(4) If the Corporation
notifies a worker in writing that it is prepared to enter into negotiations
for the redemption of a liability by agreement under this section, the
Corporation is liable to indemnify the worker for reasonable costs of
obtaining the advice required under this section up to a limit prescribed by
regulation.
(5) If agreement is
not reached within 3 months after redemption is first proposed (by the worker
or the Corporation), either party may apply to the Tribunal for reference of
the matter to a conciliation conference.
(6) The Tribunal will
then appoint a conciliator, and a conciliation conference will be held, in
accordance with the rules of the Tribunal.
(7) At the
conciliation conference, each party must disclose information in the party's
possession that may be relevant to the failure to reach agreement (including
representation made by an employer about the redemption proposal).
(8) The conciliator
must make every practicable attempt to help the parties to settle their
differences by agreement.
(9) However, if
agreement is not reached, a party cannot be compelled to agree to redemption
of the liability.
(10) The Corporation
may accredit professional and financial advisers for the purpose of giving
advice under this section (but a worker is not required to obtain the
necessary advice from an accredited adviser).
(11) However, the
Corporation incurs no liability for advice given by an accredited professional
or financial adviser.