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Contents (2011 - 37)
Workers Compensation Regulation 2010
Repealed version for 30 June 2016 to 31 August 2016 (accessed 23 November 2017 at 18:36)
174   Policies under which premiums may be paid in twelve instalments
(1)  An employer may elect to pay the deposit premium under a retro-paid loss premium policy in twelve instalments (together with any required adjustment of premium) under this Subdivision if:
(a)  the period of insurance is 12 months, and
(b)  the election is made within 1 month after the commencement of the period of insurance to which the premium relates.
(2)  Payment of the first instalment (that is, Instalment No 1) within 1 month after the commencement of the period of insurance constitutes an election to pay by instalments.
(3)  For the purposes of this Subdivision, the first instalment is an amount equal to one-twelfth of the deposit premium for the policy.