Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) If:
(a) a body corporate (the first body corporate ) ceases to be a Commonwealth authority at a particular time (the cessation time ); and
(b) the first body corporate ceases to exist at the cessation time; and
(c) under a law of the Commonwealth that was in force at the cessation time, another body corporate (the successor ) becomes the successor in law of the liabilities of the first body corporate; and
(d) the amount of Comcare's liability (if any) under this Act (including liability under actions for non - economic loss), in respect of injuries suffered before the cessation time:
(i) if the first body corporate did not hold a licence in force under Part VIII--by employees of the first body corporate; and
(ii) if the first body corporate held such a licence--by employees of the first body corporate in respect of whom the first body corporate was not authorised to accept liability;
exceeds the amount that represents so much of available scheme funds as is attributable to:
(iii) premiums paid by the first body corporate before the cessation time; and
(iv) special premiums paid by the first body corporate before the cessation time; and
(v) interest earned on the premiums and special premiums referred to in subparagraphs (iii) and (iv); and
(vi) exit contributions paid to Comcare by the successor after the cessation time; and
(vii) interest earned on exit contributions referred to in subparagraph (vi);
Comcare may make a determination of the amount of the exit contribution to be paid by the successor.
(2) For the purposes of subsection (1), the amount of the exit contribution must be equal to or less than the excess.
(3) A determination under subsection (1) may only be made during the 7 - year period beginning at the cessation time.
(4) For the purposes of paragraph (1)(c), liability means any liability, duty or obligation, whether actual, contingent or prospective.
(5) For the purposes of paragraph (1)(d):
(a) liability includes prospective liability; and
(b) assume that Comcare's liability is not contingent on:
(i) the making of a claim for compensation; or
(ii) the giving of a notice under section 53.
(6) For the purposes of paragraph (1)(d), if, under subsection 97HA(5), Comcare has permitted an amount of exit contribution payable by the successor to be paid in instalments, assume that all of those instalments have been paid to Comcare.