Workers Compensation Amendment (Wages Threshold Amount) Regulation 2014 (NSW)

New South Wales

Workers Compensation Amendment (Wages

Threshold Amount) Regulation 2014

under the

Workers Compensation Act 1987

His Excellency the Lieutenant-Governor, with the advice of the Executive Council, has made the following Regulation under the Workers Compensation Act 1987.

DOMINIC PERROTTET, MP

Minister for Finance and Services

Explanatory note
The objects of this Regulation are:

(a)	to provide that, in relation to a policy of insurance issued at or after 4 pm on 30 June 2014, if the total wages payable to workers employed by the members of a group do not exceed $750,000 (rather than $600,000) the provisions of Division 2A of Part 7 of the Workers Compensation Act 1987 do not apply to the members of the group, and
(b)	to provide that the period for giving a declaration of actual wages paid is extended for all medium and large employers from 2 months to 4 months after the end of the relevant period of insurance in relation to a policy of insurance issued at or after 4 pm on 30 June 2014, and
(c)	to provide that if an employer has elected to pay an insurance premium by instalments in accordance with clause 169 or 171 of the Workers Compensation Regulation 2010 in relation to a policy of insurance issued at or after 4 pm on 30 June 2014 and the premium adjustment amount under those clauses is more than $1,000, the employer may pay the premium adjustment amount in 3 monthly instalments.

This Regulation is made under the Workers Compensation Act 1987, including sections 171 and 280 (the general regulation-making power).

Workers Compensation Amendment (Wages Threshold Amount)

Regulation 2014

under the

Workers Compensation Act 1987

1      Name of Regulation

This Regulation is the Workers Compensation Amendment (Wages Threshold
Amount) Regulation 2014.

2      Commencement

This Regulation commences at 4 pm on 30 June 2014 and is required to be published on the NSW legislation website.

Schedule 1 Amendment of Workers Compensation
Regulation 2010

[1]      Clause 61 Employers excluded from grouping provisions: section 175D of the 1987 Act

Insert after heading:

(1) For the purposes of section 175D (2) (c) (ii) of the 1987 Act, the amount of $750,000 is prescribed in relation to a policy of insurance issued at or after 4 pm on 30 June 2014.

[2]      Clause 61

Omit “The following”. Insert instead “(2) The following”.

[3]      Clause 147 Employer to supply insurer with return relating to wages—standard policies

Omit clause 147 (2).

[4]      Clause 147 (3)

Omit “A small”. Insert instead “An”.

[5]      Clause 147 (3A)

Insert after clause 147 (3):

(3A) However, subclause (3) applies in relation to a policy of insurance issued to an employer (other than a small employer) before 4 pm on 30 June 2014 as if the reference in that subclause to 4 months were a reference to 2 months.

[6]      Clause 169 Number, size and times for payment of instalments

Omit all words under Adjustment of Premium in clause 169 (1). Insert instead:

Payment to be made:

(a)

within 1 month after service on the employer of a notice that such an adjustment is due, or

(b)

within 3 months after service of the notice and in approximately equal monthly instalments as set out in the notice if:

(i)	the amount of the adjustment is more than $1,000, and
(ii)	the employer elects to pay the amount by monthly instalments, and

(iii) the policy to which the notice relates was issued at or after 4 pm on 30 June 2014.

The amount of such an adjustment is the amount by which the actual premium payable for a policy exceeds the amounts already paid by way of instalments (including the required instalments deposit).

[7]      Clause 171 Number, size and times for payment of instalments

Omit all words under Adjustment of Premium in clause 171 (1). Insert instead:

Payment to be made:

(a)

within 1 month after service on the employer of a notice that such an adjustment is due, or

(b)

within 3 months after service of the notice and in approximately equal monthly instalments as set out in the notice if:

(i)	the amount of the adjustment is more than $1,000, and
(ii)	the employer elects to pay the amount by monthly instalments, and

(iii) the policy to which the notice relates was issued at or after 4 pm on 30 June 2014.

The amount of such an adjustment is the amount by which the actual premium payable for a policy exceeds the amounts already paid by way of instalments (including the required instalments deposit).