Territory Stories

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



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

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Tabled paper 1556


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






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.




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Northern Territory Motor Accidents (Compensation) Commission Annual Report 2015 Page 4 Commissioners Report (cont) The performance of the MAC Fund during the year was positive and helped contribute to the ongoing financial viability of the Scheme. Total return on investment funds was 7.3 per cent, slightly below the benchmark. The Fund returned $140 million in excess capital to Government on 1 January 2015, and remains well capitalised. Solvency at the end of the financial year was over 38 per cent, which is consistent with the long term targets for the Scheme. During 2014-2015 the MAC Fund invested $4.7 million into road safety programs across the Northern Territory. This included $3.1 million provided to the Northern Territory Department of Transport to fund government road safety initiatives, including $0.5 million for the motorcycle training program, METAL, and $1.3 million for the driver training program, DriveSafe NT. The remainder of the road safety funding was invested by MACC directly into programs identified to produce significant benefits in reducing road accidents and resulting injuries. During the last financial year, MACC entered into a long term arrangement with the AFLNT to provide ongoing funding to the Michael Long Learning and Leadership Centre. Based at TIO Stadium in Darwin, this state-of-the art sport, education and accommodation facility delivers leadership and personal development programs to young Indigenous Territorians. The Commissions investment in the partnership will see road safety awareness and education as a core component of the program, as part of the Commissions ongoing efforts to reduce the over-representation of Indigenous Territorians in road accident statistics. Jim Colvin Motor Accidents (Compensation) Commissioner Commissioners Report

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