Western Australian Current Acts Western Australian Current Acts (1) Notwithstanding
the provisions of the Financial Management Act 2006 , WorkCover WA shall in
each year prepare an estimate of the amount necessary to be raised by way of
levies and contributions payable to the General Account to carry out its
functions under this Act; and, as soon as practicable after the preparation of
the estimate, WorkCover WA shall submit it to the Minister and it shall not
have any force or effect unless and until it is approved by the Minister.
(2) If the General
Account is in surplus at the commencement of the year for which the estimate
is being prepared, the estimate shall be calculated by deducting from the
estimated expenditures the sum of —
(a) the
estimated receipts of the General Account from all sources other than the levy
and contributions; and
(b) the
balance of the General Account at the commencement of the year.
(3) If the General
Account is in deficit at the commencement of the year for which the estimate
is being prepared, the estimate shall be calculated by deducting the estimated
receipts of the General Account arising from all sources other than the levy
and contributions, from the sum of —
(a) the
estimated expenditure; and
(b) the
balance of the General Account at the commencement of the year.
(4) In calculating the
estimate, both the estimated increase required in reserves over that year and
depreciation may be included in the estimated expenditure of the General
Account.
[Section 107 amended: No. 98 of 1985 s. 3; No. 96
of 1990 s. 27; No. 42 of 2004 s. 150; No. 77 of 2006 Sch. 1 cl. 189(5) and
(9).]