Every employer shall either arrange with the Compensation Commissioner to extend and maintain the cover provided by the Compensation for Occupational Injuries and Diseases Act, 1993 as amended by the Compensation for Occupational Injuries and Diseases Amendment Act, No 61 of 1997, to all his employees who fall within the provisions of this Agreement or, alternatively, with a mutual association licenced by the Minister to provide benefits at least equivalent to those provided by the Compensation for Occupational Injuries and Diseases Act, 1993, as amended, in respect of his employees who fall within the provisions of this Agreement and whose earnings exceed the earnings ceiling specified in the said Act.