These concepts since called the Meredith Principles provided the rationale around which employers and workers could achieve permanent agreement for a reliable, fair and manageable system for new stability to the workplace. The worker and employer waive the right to sue. There is no argument over responsibility or liability for an injury. Fault becomes irrelevant, and providing compensation becomes the focus. All employers contribute to a common fund.
Financial liability becomes their collective responsibility.
A fund is established to guarantee that compensation monies will be available. Injured workers are assured of prompt compensation and future benefits. The Board is the decision-maker and final authority for all claims. The Board is financially independent of government or any special interest group. The administration of the system is focused on the needs of its employer and labour clients, providing service with efficiency and impartiality.