Australian Capital Territory Numbered Regulations Australian Capital Territory Numbered Regulations(1) An application by an employer for exemption must contain or be accompanied by the following:
(a) a written statement by the employer that the employer will be able to meet present and future claims under the Act for which the employer is, or is expected to be, liable;
(b) if the employer has, or is applying for, a corresponding exemption—evidence of the exemption or application;
(c) evidence that the employer has reinsurance of at least $500 000 cpi indexed for a single event to cover the employer's future liability under the Act;
(d) a copy of the employer's annual report and balance sheet (or, if either is not available, equivalent information) for each of the previous 3 years;
(e) an actuarial report;
Note See subreg (3) for what must be included in an actuarial report.
(f) a guarantee from an authorised deposit-taking institution in favour of the nominal insurer for the guaranteed amount in relation to the employer;
Note The guaranteed amount is defined in subreg (4).
(g) a written agreement by the employer to allow the Minister to discuss the affairs and performance of the employer with Commonwealth or State Ministers responsible for workers compensation or corporate or prudential regulation;
(h) a written agreement by the employer to allow, and pay the cost of, an audit conducted on behalf of the Minister to establish that the employer has adequate resources to meet the employer's expected liabilities under the Act;
(i) a copy of the employer's OH&S policy and evidence that it has been brought to the attention of the employer's workers;
(j) the name, address in the ACT and telephone number of a person nominated by the employer to be the contact officer who is to give information about claims under the Act to the Minister;
(k) evidence that the employer has in place an occupational health and safety management system that complies with Australian Standard 4801;
Note Australian Standard 4801 is Occupational Health and Safety Management Systems—specification with guidance for use .
(l) a written statement by the employer that the employer will be able to meet its obligations under the Act in relation to injury management programs and personal injury plans;
(m) a written agreement by the employer to allow, and pay the cost of, an investigation by the Minister to assess the employer's statement under paragraph (l).
(2) The Minister may, in writing, require further information from the employer that provides evidence the employer—
(a) is financially and prudentially sound; or
(b) will be able to meet the employer's obligations under the Act in relation to injury management programs and personal injury plans.
(3) For subregulation (1) (e), the actuarial report must contain the following:
(a) an estimate of the employer's current outstanding liability in relation to compensable injuries);
(b) an estimate of the total of the employer's expected liability for each year in relation to which the employer is applying to be a self-insurer;
(c) an estimate of the total of the expected payments in satisfaction of the employer's liability for compensable injuries that will be made for each year in relation to which the employer is applying to be a self-insurer.
(4) For subregulation (1) (f), the guaranteed amount is the greater of the following amounts:
(a) $750 000; or
(b) an amount calculated by an actuary to be the estimate of outstanding claims liability at the balance date, plus a prudential margin of 30%.
(5) The Legislation Act 2001 , section 47 (5) and (6) does not apply to the Australian Standard mentioned in subregulation (1) (k).
(6) In this regulation:
"corresponding exemption" means an exemption under a State law that has the same effect, or substantially the same effect, as an exemption under this part.
"cpi indexed"—see the Act, section 20 (Meaning of cpi indexed and awe indexed ).
"OH&S policy", of an employer, means a policy developed and maintained by the employer under the Occupational Health and Safety Act 1989 , section 27 (2) (e).