Where an employer or
group of employers which is exempt under section 164 —
(a)
applies to the Minister for a revocation of such exemption and for the return
of securities given by it or them to the State discharged from the charge
referred to in section 164(1); or
(b)
proves to the satisfaction of the Minister that —
(i)
the employer or group, as the case may be, has ceased to
employ workers; or
(ii)
he or they have obtained from an approved insurance
office a policy of insurance in compliance with section 160(1),
and that —
(iii)
there are no outstanding or potential —
(I) claims for compensation; or
(II) actions for
insurable damages;
or
(iv)
satisfactory provision has been made for discharging any
outstanding or potential claims or actions,
the Governor may by
Order in Council revoke the exemption and order that the securities be
discharged from the charge and returned to the employer or the group, as the
case may be.
[Section 168 amended: No. 96 of 1990 s. 41; No. 42
of 2004 s. 124; No. 31 of 2011 s. 109; No. 12 of 2012 s. 8.]