NSW Self Insurance Corporation Act 2004 (NSW)

NSW Self Insurance Corporation Act 2004 No 106

An Act to reconstitute the NSW Insurance Ministerial Corporation as the NSW Self Insurance Corporation and to clarify its functions; and for related purposes.

Part 1 Preliminary

1 Name of Act This Act is the NSW Self Insurance Corporation Act 2004.

2 Commencement This Act commences on a day or days to be appointed by proclamation.

3 Definitions (1) In this Act— builder means a person who carries on the business of doing residential building work. building management service provider means a person who provides builders with advice and other services concerning the management of builders' businesses (such as the management of financial risks). chief executive means the chief executive of the Self Insurance Corporation appointed under this Act. construction contract means a contract or other agreement for the carrying out of construction work. Construction Risks Insurance Fund means the Fund established under section 12C. contractor, in relation to a construction contract, means a party to the contract who undertakes to carry out the construction work under the contract, and includes any subcontractors engaged by such a party to carry out work on the party's behalf. eligible State official means a person who is— (a) an employee or officer of the State, or (b) an employee, or a member, director or other officer, of an authority of the State, and, without limiting paragraph (a) or (b), includes a member of a committee or other body established for the purpose of assisting an authority of the State (including a Public Service agency or a Minister) in the exercise of its functions. exercise a function includes perform a duty. function includes a power, authority or duty. Government managed fund scheme means an arrangement under which workers compensation, motor vehicle accident, public and other liabilities of the State, an authority of the State or an eligible State official— (a) are managed as a self insurance scheme (including the collection of contributions from the State, an authority of the State or an eligible State official towards the cost of claims), and (b) are paid, or otherwise settled, by the State or by the Self Insurance Corporation on behalf of the State, an authority of the State or an eligible State official, but does not include any arrangement under which— (c) insurance under the Home Building Compensation Fund is provided (or the Home Building Compensation Fund is managed) by or on behalf of the Self Insurance Corporation, or (d) principal arranged construction insurance is provided (or the Construction Risks Insurance Fund is managed) by or on behalf of the Self Insurance Corporation. Home Building Compensation Fund means the Fund established under section 12A. insurance agency or broker arrangement—see section 8A (4). insurance agent—see section 8A (4). insurance intermediary means a person who enters into a contract, agreement or other arrangement with an insurance agent in connection with the provision of insurance under Part 6 of the Home Building Act 1989 by or on behalf of the Self Insurance Corporation. insurance under the Home Building Compensation Fund means insurance under a contract of insurance required to be entered into by or under Part 6 of the Home Building Act 1989. mandatory Government arranged construction insurance means principal arranged construction insurance that the State or an authority of the State is required (whether as a matter of law or Government policy) to arrange with the Self Insurance Corporation because of a direction of the Treasurer or the Secretary of the Treasury.