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NATIONAL DISABILITY INSURANCE SCHEME ACT 2013 - SECT 180B

Duties of scheme actuary

Duties relating to annual financial sustainability report

             (1)  The scheme actuary must do all of the following each time an annual report is being prepared by the Board members under section 46 of the Public Governance, Performance and Accountability Act 2013 :

                     (a)  assess:

                              (i)  the financial sustainability of the National Disability Insurance Scheme; and

                             (ii)  risks to that sustainability; and

                            (iii)  on the basis of information held by the Agency, any trends in provision of supports to people with disability;

                     (b)  consider the causes of those risks and trends;

                     (c)  make estimates of future expenditure of the National Disability Insurance Scheme;

                     (d)  prepare a report of that assessment, consideration and estimation;

                     (e)  prepare a summary of that report that includes the estimates described in paragraph (c).

Duty to make quarterly estimates of future expenditure

             (2)  At least once each quarter, the scheme actuary must make estimates of the future expenditure of the National Disability Insurance Scheme and advise the CEO of the estimates. For this purpose, quarter means a period of 3 months starting on 1 July, 1 October, 1 January or 1 April.

Note:          The CEO must give the Board a copy of the advice under subsection 159(7).

Duty to provide information and advice on request

             (3)  The scheme actuary must, on request from the Board or the CEO, provide actuarial information or advice.

Duty to report concerns to Board

             (4)  If the scheme actuary has significant concerns about the financial sustainability of the National Disability Insurance Scheme, or the risk management processes of the Agency, he or she must report those concerns to the Board as soon as reasonably practicable.



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