Victorian Bills

[Index] [Search] [Download] [Related Items] [Help]


This is a Bill, not an Act. For current law, see the Acts databases.


ACCIDENT COMPENSATION AMENDMENT (REPAYMENTS AND DIVIDENDS) BILL 2012

                 PARLIAMENT OF VICTORIA

 Accident Compensation Amendment (Repayments
            and Dividends) Bill 2012



                      TABLE OF PROVISIONS
Clause                                                             Page
  1      Purpose                                                      1
  2      Commencement                                                 1
  3      Payments out of WorkCover Authority Fund                     2
  4      Capital and dividends                                        2
         33A      Repayment of capital                                2
         33B      Dividends                                           2
  5      Repeal of amending Act                                       3
                            

ENDNOTES                                                              4




571213B.I-13/3/2012                i      BILL LA INTRODUCTION 13/3/2012

 


 

PARLIAMENT OF VICTORIA Introduced in the Assembly Accident Compensation Amendment (Repayments and Dividends) Bill 2012 A Bill for an Act to amend the Accident Compensation Act 1985 to enable the Victorian WorkCover Authority to repay capital and pay dividends to the State and for other purposes. The Parliament of Victoria enacts: 1 Purpose The purpose of this Act is to amend the Accident Compensation Act 1985 in order to enable the Victorian WorkCover Authority to repay capital 5 and pay dividends to the State. 2 Commencement This Act comes into operation on the day after the day on which this Act receives the Royal Assent. 571213B.I-13/3/2012 1 BILL LA INTRODUCTION 13/3/2012

 


 

Accident Compensation Amendment (Repayments and Dividends) Bill 2012 s. 3 3 Payments out of WorkCover Authority Fund After section 32(4)(e) of the Accident Compensation Act 1985 insert-- "(ea) any payment of an amount under 5 section 33A or 33B;". 4 Capital and dividends After section 33 of the Accident Compensation Act 1985 insert-- "33A Repayment of capital 10 (1) The capital of the Authority is repayable to the State at the times and in the amounts determined by the Treasurer after consultation with the Authority and the Minister. 15 (2) In making a determination under this section, the Treasurer must have regard to any advice that the Authority has given to the Treasurer in relation to the Authority's affairs. 33B Dividends 20 (1) The Authority must pay to the State a dividend at the time and in the manner determined by the Treasurer after consultation with the Authority and the Minister. 25 (2) In determining the dividend policy that applies to the Authority, the Treasurer must have regard to the solvency margin determined to maintain the long term financial viability of the accident 30 compensation scheme.". 571213B.I-13/3/2012 2 BILL LA INTRODUCTION 13/3/2012

 


 

Accident Compensation Amendment (Repayments and Dividends) Bill 2012 s. 5 5 Repeal of amending Act This Act is repealed on the first anniversary of its commencement. Note 5 The repeal of this Act does not affect the continuing operation of the amendments made by it (see section 15(1) of the Interpretation of Legislation Act 1984). 571213B.I-13/3/2012 3 BILL LA INTRODUCTION 13/3/2012

 


 

Accident Compensation Amendment (Repayments and Dividends) Bill 2012 Endnotes ENDNOTES By Authority. Government Printer for the State of Victoria. 571213B.I-13/3/2012 4 BILL LA INTRODUCTION 13/3/2012

 


 

 


[Index] [Search] [Download] [Related Items] [Help]