Document ID: chunk:federal_register_of_legislation:C2004A04197:body:0:p5
Version: federal_register_of_legislation:C2004A04197
Segment Type: other
Provision Reference: 
Character Range: 11006–13797

subsection (3) or a rate that is more than the rate so specified.

(8)     An amount or amounts of surcharge payable by a Department or Commonwealth authority under this section must be paid into, or transferred within, the Consolidated Revenue Fund in accordance with the directions of the Commission.

(9)     Where, immediately before the commencing day, an amount of contribution had not been paid or transferred in accordance with paragraph 98 (b) of the Principal Act, interest is payable on the amount at the prescribed rate applicable from time to time in respect of each day after the commencing day on which the amount is not so paid or transferred.

  (10) In this section:

"commencing day" means the day on which this section commences;

"prescribed rate" means the rate that at any particular time is 2 percentage points higher than the yield applicable at that time in respect of 3-year non-rebate Commonwealth Treasury bonds.

12. After Division 4 of Part VII of the Principal Act the following Division is inserted:

"Division 4a—Premiums

Estimates of premiums

"96. The Commission must prepare an estimate, in such form as the Minister directs, of the amount of premium of each Department or Commonwealth authority (other than an administering authority) for the financial year starting on 1 July 1991 and for each later financial year.

Amount of premium

"96a. (1) Subject to section 96b, in estimating the amount of the premium of a Department or Commonwealth authority for a financial year, the Commission must have regard to:

  (a)     the prescribed amount; and

  (b)     any penalty amount or bonus amount;

in relation to the Department or authority for that year.

  "(2) In this section:

'bonus amount', in relation to a Department or Commonwealth authority for a financial year, means the amount (if any) determined by the Commission to be an appropriate amount to be deducted from the prescribed amount in relation to the Department or authority for that year, having regard to:

    (a)     the number of claims made by, or in relation to, employees of the Department or authority in each previous financial year; and

    (b)     the amount of compensation paid to, or in relation to, such employees under this Act; and

    (c)     the nature and extent of any rehabilitation programs provided by the Department or authority to such employees under Part III; and

    (d)     the nature and extent of any occupational health and safety programs provided by the Department or authority for its employees;

'penalty amount', in relation to a Department or Commonwealth authority for a financial year, means the amount (if any), determined by the Commission to be an appropriate amount to be added to the prescribed amount in relation to the Department or