Section 192 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Application and source of funds

192 Application and source of funds (1) The purpose of the Residual Claims Account is to finance entitlements referred to in subsection (2) that are required to be provided in respect of persons whose entitlements would have been provided from the Employers' Account under the Accident Rehabilitation and Compensation Insurance Act 1992. (2) Subsection (1) applies to entitlements in respect of— (a) work injuries (as defined in the Accident Rehabilitation and Compensation Insurance Act 1992) suffered before 1 July 1999; and (b) non-work injuries to earners suffered before 1 July 1992. (3) The purpose of the Residual Claims Account is also to pay the costs relating to the injuries referred to in subsection (5)(c) . (4) The funds for the Residual Claims Account are to be derived from— (a) the prescribed Residual Claims levy in relation to a prescribed period; and (b) premiums continued by or payable under Part 11 . (5) The funds in the Residual Claims Account must be applied to meet the costs of— (a) entitlements in respect of earners who suffered a work injury (within the meaning of the Accident Rehabilitation and Compensation Insurance Act 1992) before 1 July 1999; and (b) entitlements in respect of earners who suffered a personal injury by accident (other than a motor vehicle injury) for which the person had cover under the Accident Compensation Act 1972 or the Accident Compensation Act 1982; and (c) contributions to entitlements in respect of persons who suffered an injury on or after 1 July 1999 that are attributed to the Corporation in accordance with the cost allocation provisions in sections 107 to 113 and 451 of the Accident Insurance Act 1998, as continued by Part 10 of this Act, because the injury was caused, or contributed to, before 1 July 1999; and (d) administering the Account; and (e) any other expenditure authorised by this Act. (6) The funds in the Residual Claims Account must also be applied to meet the costs of entitlements for personal injury caused by work-related gradual process, disease, or infection if— (a) the employment task, or employment in the particular environment, giving rise to that personal injury was performed or occurred before 1 July 1999; and (b) the claimant was an employee or self-employed when performing that task or in that environment (regardless of whether the claimant was an employee or self-employed at the date on which the personal injury is regarded as having been suffered). Compare: 1998 No 114 s 303 Subsection (6) was inserted, as from 1 July 2005, by section 33 Injury Prevention, Rehabilitation, and Compensation Amendment Act (No 2) 2005 (2005 No 45).