Section Sch6-“ 59 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Funding

“ 59 Funding “ (1) In this section,— “ the applicable Act means the Injury Prevention, Rehabilitation, and Compensation Act 2001 “ earner , earnings , earnings as a self-employed person , and Corporation have the same meanings as in section 6 of the applicable Act “ funding levy means the levy required to be paid by subsection (2) “ Residual Claims levy means the levy payable under section 193 of the applicable Act. “ (2) For the purpose of recovering the expected cost to the Crown of the administration of this Act, there is payable— “ (a) by every employer, on the amount of earnings paid or deemed to have been paid by the employer to the employer's employees, a levy at a rate or rates prescribed by regulations made, on the recommendation of the Minister, under this Act; and “ (b) by every earner who has earnings as a self-employed person, on the amount of earnings as a self-employed person derived or deemed to have been derived by the earner, a levy at a rate or rates prescribed by regulations made, on the recommendation of the Minister, under this Act; and “ (c) by every shareholder-employee to whom section OB 2(2) of the Income Tax Act 1994 applies, on the amount of earnings derived or deemed to have been derived by the shareholder-employee, a levy at a rate or rates prescribed by regulations made, on the recommendation of the Minister, under this Act. “ (3) The funding levy must be added to, and is deemed part of, the Residual Claims levy; and— “ (a) the funding levy is payable, collected, and remitted, and penalties are payable in respect of it, as if it were the Residual Claims levy; and “ (b) the Corporation and the Commissioner of Inland Revenue have all the powers in respect of the funding levy that they have in respect of the Residual Claims levy; and “ (c) the Commissioner of Inland Revenue is not required to refer separately to or account separately for, or identify, any funding levy in performing his or her functions in relation to the Residual Claims levy or the funding levy. “ (4) The Corporation must, by the 20th day of the month after the month in which the Corporation receives any funding levy from the Commissioner of Inland Revenue, pay that funding levy to the Secretary. “ (5) The Corporation may charge the Secretary a fee for collecting the funding levy. “ (6) The Secretary must pay into the Crown Bank Account all of the funding levy the Corporation pays to the Secretary. “ (7) The Minister must not recommend the making of regulations for the purposes of subsection (2) without first consulting the Corporation. “ (8) Subsection (7) does not limit the generality of section 21(2) of this Act. ”