Territory Stories

Annual Report 2015 Motor Accidents (Compensation) Commission (MACC)

Details:

Title

Annual Report 2015 Motor Accidents (Compensation) Commission (MACC)

Other title

Tabled paper 1556

Collection

Tabled Papers for 12th Assembly 2012 - 2016; Tabled Papers; ParliamentNT

Date

2015-11-19

Description

Deemed

Notes

Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.

Language

English

Subject

Tabled papers

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C01622

Parent handle

https://hdl.handle.net/10070/273151

Citation address

https://hdl.handle.net/10070/799706

Page content

Northern Territory Motor Accidents (Compensation) Commission Annual Report 2015 Page 101 Territory Insurance Office Appendices Territory Insurance Office Appendices Motor Accidents (Compensation) Commission Annual Report 2014/2015 87 Appendix 1 of the Annual Report Regulatory Capital Under the Motor Accidents Compensation Commission Act, MACC is regulated for prudential purposes by the Northern Territory Government through Treasurer Determinations that state the MAC Fund must separately comply with all APRA prudential standards unless any standard is specifically exempted. MAC Fund The MAC fund is exempted from the APRA prudential standards GPS110 to GPS 116. The solvency of the MAC Fund is measured as a ratio of Retained Earnings to Net Outstanding Claims. As at 30 June 2015, the Solvency ratio was 39.08%. Motor Accidents (Compensation) Commission Notes to the Financial Statements 30 June 2015 Motor Accidents (Compensation) Commission Annual Report 2014/2015 86 37. Events subsequent to balance date There are no events subsequent to balance date. 38. Contingent liabilities and contingent assets a) Contingent liabilities MACC has legal matters in progress which arise in the normal course of business. MACC defends such matters; however the outcome and quantum of any liabilities are contingent upon the Courts decisions. b) Contingent assets MACC has no contingent assets.


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