South Australian Consolidated Acts

WORKERS REHABILITATION AND COMPENSATION ACT 1986 - SECT 50

50—Corporation as insurer of last resort

        (1)         If a self-insured employer has ceased to be registered as a self-insured employer under this Act, the Corporation may, in its discretion, undertake, in whole or part, liabilities related to compensable disabilities arising from employment during the period of that registration.

        (2)         The Corporation must undertake the liabilities of a formerly self-insured employer under subsection (1) if the employer—

            (a)         becomes insolvent; or

            (b)         ceases to carry on business in the State and fails to make provision that the Corporation considers adequate for dealing with claims, and meeting liabilities and responsibilities related to compensable disabilities, arising from employment during the period of the employer's registration as a self-insured employer.

        (3)         The Corporation may recover the amount of liabilities undertaken by the Corporation under this section as a debt due to the Corporation from the employer (and, if the employer is being wound up, a claim for the relevant amount may be made in the winding up).

        (4)         If a claim is made under subsection (3) for an amount representing liabilities that have not fallen due, or have not been ascertained, as at the date of the claim, the liabilities will be estimated and capitalised in accordance with principles stated, or referred to, in the regulations.