Document ID: chunk:federal_register_of_legislation:C2011A00142:clause:5_10
Version: federal_register_of_legislation:C2011A00142
Segment Type: clause
Provision Reference: sch 5 cl 10
Character Range: 81099–81741

10  Actuarial advice relating to sufficiency of fund
(1) In January 2013, (or such later month before 1 January 2015 prescribed by the regulations), the Board must seek advice from an actuary as to:
 (a) whether the rate of payroll levy imposed (at the time the advice is given) would be adequate to ensure that the Fund will be sufficient to reimburse employers in accordance with the Employer Reimbursement Rules; and
 (b) if not, the rate that would be so adequate.
(2) To avoid doubt, advice sought under this item satisfies the requirements of subsections 43(1) and (2) of the new law for the period 1 January 2012 to 31 December 2014.