South Australian Repealed Acts South Australian Repealed ActsThis legislation has been repealed.
70—Industry rates and base premiums
(1) The Corporation
must, in relation to each class of industry, fix a rate (expressed as a
percentage and to be called the "industry premium rate") that is to be applied
for the purposes of determining base premiums under subsection (9)
.
(2) The rates under subsection (1)
—
(a) must
be fixed by the Corporation by notice in the Gazette; and
(b) may
be varied by the Corporation by subsequent notice in the Gazette.
(3) Subject to subsection (5)
, a percentage fixed under subsection (1)
in relation to a class of industry must not exceed 7.5%.
(4) In fixing the
percentage applicable to a particular class of industry the Corporation must
apply any criteria or principles specified by the regulations.
(5) The Corporation
may fix a percentage in excess of 7.5% in relation to a particular class of
industry if in each of 2 consecutive years the Corporation's estimate of
the aggregate cost of claims in respect of injuries attributable to traumas
occurring in the year in the relevant class exceeds 30% of the aggregate
remuneration paid to workers in that class that is used for the purposes of
the calculation of premium.
(6) The Corporation
may apply any principle determined by the Corporation to be appropriate for
the purposes of making an estimate of the aggregate cost of any claims (or any
claims of a specified class under subsection (5)
).
(7) A percentage fixed
under subsection (5)
must not exceed 20%.
(8) A percentage fixed
under subsection (5)
must be reviewed annually by the Corporation and applies until it is revoked
or varied by the Corporation.
(9) A base premium
under this Act, in its application to a particular industry, is determined as
follows:
Where
"BP" is the base premium
"remuneration" is the remuneration payable by an employer to workers employed
in the particular industry
"industry premium rate" is the industry premium rate for the relevant class of
industry.