Victorian Current Acts Victorian Current Acts(1) If an employer that is a body corporate to which section 434 applies becomes an eligible subsidiary of a self-insurer, the self-insurer must, within 28 days—
(a) notify the Authority in writing of the acquisition of the eligible subsidiary; and
(b) include in the notification whether or not the self-insurer elects to assume the liability for, and the responsibility for management of, the tail claims of the eligible subsidiary.
(2) If the self-insurer makes an election under subsection (1)(b), the self-insurer must, on or before the transfer date, give the Authority a guarantee in accordance with section 399 in respect of the tail claims of the eligible subsidiary.
(3) If the self-insurer gives the guarantee in accordance with subsection (2), the self-insurer assumes the liability for, and the responsibility for, management of, the tail claims of the eligible subsidiary on the transfer date.
(4) If the self-insurer does not make an election under subsection (1)(b), the Authority retains the liability for, and the responsibility for management of, the tail claims of the eligible subsidiary in accordance with section 403.
(5) In this section—
"tail claim", in relation to an employer that is a body corporate to which section 434 applies that becomes an eligible subsidiary of a self‑insurer, means a claim, whenever made—
(a) in respect of an injury or death incurred or suffered by a worker employed by the body corporate before it became an eligible subsidiary of the self-insurer; and
(b) that entitles the worker, the dependants of the worker and members of the worker's family to—
(i) compensation or other payments under this Act (other than section 576 or 578) or the Accident Compensation Act 1985 (other than section 242AB or 242AD); or
(ii) damages at common law as permitted by and in accordance with Division 2 of Part 7 (other than sections 348 to 356 inclusive) or section 366 of this Act or section 134AB or 135C of the Accident Compensation Act 1985 ;
"transfer date" means the date agreed between the Authority and the self-insurer as the date on which the liability for, and the responsibility for management of, the tail claims of the eligible subsidiary are to be assumed by the self-insurer.