Section 274 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Management of Accounts

274 Management of Accounts (1) The Corporation must ensure that revenue and expenditure relating to each Account is received, applied, and accounted for separately. (2) Except as otherwise authorised under this Act and subject to subsections (3) to (5) , the Corporation must not use funds from one Account to meet any costs arising under another Account. (3) Costs in relation to a claim that is associated with more than 1 Account must be apportioned, if practicable, to the relevant Accounts in a way that reasonably represents the relative costs to each Account of the claim concerned. (3A) The costs of claims for personal injury caused by work-related gradual process, disease, or infection to which section 167(3)(b) or section 192(6) applies may be apportioned to the Work Account and the Residual Claims Account in a way that the Corporation considers appropriate having regard to the exposure period of the claimant to the injury-causing agent. (3B) The Minister may, without complying with section 115(2) of the Crown Entities Act 2004, direct the Corporation to attribute in full, or apportion in part, to the Non-Earners' Account the costs of lump sum compensation for permanent impairment caused by gradual process, disease, or infection. (4) The Corporation must take all reasonable steps to ensure that the administration costs in relation to the management of the Accounts are fairly apportioned among the Accounts. (5) Costs incurred by the Corporation in carrying out all the functions, duties, and powers under this Act that cannot be directly attributed to an Account must be apportioned,— (a) if a policy direction for the time being in effect under section 103 of the Crown Entities Act 2004 provides for the apportionment of those costs, in accordance with the direction; or (b) if no relevant policy direction is for the time being in effect under section 103 of the Crown Entities Act 2004 , to all Accounts in a way that reasonably represents the relative costs to each Account of the costs concerned. Compare: 1998 No 114 s 343 Subsections (3A) and (3B) were inserted, as from 11 May 2005, by section 45 Injury Prevention, Rehabilitation, and Compensation Amendment Act (No 2) 2005 (2005 No 45). Subsection (3A) was amended, as from 1 April 2007, by section 13(1) Injury Prevention, Rehabilitation, and Compensation Amendment Act 2007 (2007 No 8) by substituting “ 167(3)(b) ” for “ 167(4) ” . See sections 14 to 16 of that Act for the transitional provisions. Subsection (3A) was amended, as from 1 April 2007, by section 13(1) Injury Prevention, Rehabilitation, and Compensation Amendment Act 2007 (2007 No 8) by omitting “ or section 201(4) ” . See sections 14 to 16 of that Act for the transitional provisions. Subsection (3A) was amended, as from 1 April 2007, by section 13(1) Injury Prevention, Rehabilitation, and Compensation Amendment Act 2007 (2007 No 8) by substituting “ Work Account and the Residual Claims Account ” for “ Employers' Account, the Residual Claims Account, and the Self-Employed Work Account ” . See sections 14 to 16 of that Act for the transitional provisions. Section 274(3B): amended, on 1 August 2008, by section 27 of the Injury Prevention, Rehabilitation, and Compensation Amendment Act 2008 (2008 No 46). Subsection (5)(a) and (b) were amended, as from 25 January 2005, by section 200 Crown Entities Act 2004 (2004 No 115) by substituting “ section 103 of the Crown Entities Act 2004 ” for “ section 270 ” in each case.