Victorian Current Acts Victorian Current ActsSchedule 7—Application fee for approval as self‑insurer
1 Application fee
For the purposes of section 376(4) and subject to section 378, the fee that must accompany an application for approval as a self-insurer is the lesser of—
(a) an amount equal to 0·033 per cent of the assessment remuneration of the applicant determined under clause 2;
(b) the fee limit determined under clause 3.
2 Assessment remuneration
(1) For the purposes of clause 1(a) and subject to subclause (2), "assessment remuneration" of an employer means the sum of—
where—
A is the total relevant remuneration which was paid or payable during the preceding year to workers employed by the employer and its eligible subsidiaries;
B is the number of months in the preceding year during which the remuneration referred to in the definition of A was paid or payable by the employer.
(2) If the employer and its eligible subsidiaries have paid no remuneration during the preceding year, the assessment remuneration means the relevant remuneration estimated by the Authority under section 377 as payable by the employer and its eligible subsidiaries during the forthcoming year.
(3) In this clause—
"forthcoming year" means the next financial year following the date on which the application is made;
"preceding year" means the most recent financial year preceding the date on which the application is made;
"relevant remuneration" has the same meaning it has in section 372.
3 Fee limit
(1) For the purposes of clause 1(b), the fee limit for an application for approval as a self-insurer is $55 330 or that amount as varied in accordance with subclauses (2), (3) and (4) as at the date on which the application is made.
(2) The fee limit must be varied, in respect of the financial year beginning on 1 July 2014 and each subsequent financial year, in accordance with the formula—
where—
A is the amount specified in subclause (1) or, if that amount has been varied in accordance with this clause, that amount as last so varied;
B is the average weekly total earnings of all employees in Victoria in original terms for the most recent reference period in the preceding financial year published by the Australian Bureau of Statistics as at 15 June immediately preceding the date on which the variation is made;
C is the average weekly total earnings of all employees in Victoria in original terms for the corresponding reference period in the financial year preceding the financial year referred to in B published by the Australian Bureau of Statistics as at 15 June immediately preceding the date on which the variation is made.
(3) If the variation of the fee limit by operation of subclause (2) has the effect of reducing the amount of the fee limit—
(a) the variation is deemed not to have taken effect, except for the purposes of the application of this subclause; and
(b) when the fee limit is varied and increased by operation of subclause (2) in respect of the next or a subsequent financial year, that variation has effect as an increase only to the extent (if any) to which the amount of the increase exceeds the amount of the reduction in respect of a preceding financial year, or that part of such a reduction that has not been set off against a previous increase.
(4) The amount produced by a variation of the fee limit must be calculated to the nearest whole $10.