Victorian Numbered Acts Victorian Numbered Acts(1) The Authority, in accordance with this section, may revoke the approval of an employer as a self-insurer if—
(a) the Authority is of the opinion that the employer is no longer capable of meeting its claims liabilities as and when they fall due; or
(b) the employer becomes the subsidiary of another body corporate (other than a foreign company within the meaning of the Corporations Act that is not a registered foreign company within the meaning of that Act); or
(c) having regard to the matters specified in section 379(4), the Authority is not satisfied that the employer is fit and proper to be a self-insurer; or
(d) the employer by notice in writing given to the Authority, requests that the approval be revoked; or
(e) the employer has failed to comply with—
(i) this Act or the regulations; or
(ii) any terms or conditions of its approval as a self-insurer; or
(iii) a Ministerial Order; or
(iv) any other subordinate instrument made under this Act or the regulations.
(2) The Authority, in accordance with this section, may revoke the approval of an employer as a self-insurer if, on the basis of a review conducted under section 384, the Authority is of the opinion that the approval should be revoked.
(3) The Authority must not revoke the approval of an employer as a self-insurer unless the Authority has given not less than 28 days notice in writing to the employer stating—
(a) the Authority's intention to revoke the approval; and
(b) the reasons for the intended revocation; and
(c) that the employer may, within 28 days after receiving the notice, make a written submission to the Authority.
(4) If the approval of the employer is revoked at the request of the employer—
(a) subsection (3) does not apply; and
(b) the Authority may give the employer a written notice of revocation at any time after receiving the request.
(5) If, within the time allowed under subsection (3)(c), the Authority receives a written submission from the employer, the Authority must consider the submission before deciding whether or not to revoke the approval of the employer as a self-insurer.
(6) If, after the expiry of the 28 days notice and after considering any submission from the employer, the Authority decides to revoke the approval of the employer as a self-insurer, the Authority must give the employer a written notice of revocation.
(7) The revocation of an approval of an employer as a self-insurer takes effect immediately after the day on which the notice of the revocation is given to the employer.