Document ID: chunk:federal_register_of_legislation:C2024C00534:section:34zv
Version: federal_register_of_legislation:C2024C00534
Segment Type: section
Provision Reference: s 34ZV
Character Range: 150492–151831

34ZV  Invoices for medical indemnity cover
 (1) If:
 (a) a medical indemnity insurer gives to a person an invoice stating the premium that is or will be payable for medical indemnity cover provided by a contract of insurance with the medical indemnity insurer; and
 (b) payment of the premium would increase the medical indemnity insurer's liability to pay run‑off cover support payment;
the medical indemnity insurer must ensure that the invoice states:
 (c) the amount of the medical indemnity insurer's premium income, for the contribution year in question, that represents the premium that is or will be payable for medical indemnity cover provided by the contract of insurance; and
 (d) the applicable percentage relating to that contribution year; and
 (e) the amount of the run‑off cover support payment imposed on the medical indemnity insurer, for that contribution year, that relates to the premium that is or will be payable for medical indemnity cover provided by the contract of insurance.
Note: Failure to comply with this section is an offence (see section 47A).
 (2) In this section:
applicable percentage has the same meaning as in subsection 6(2) of the Medical Indemnity (Run‑off Cover Support Payment) Act 2004.
premium income has the same meaning as in the Medical Indemnity (Run‑off Cover Support Payment) Act 2004.