Document ID: chunk:federal_register_of_legislation:F2024C01011:reg:18
Version: federal_register_of_legislation:F2024C01011
Segment Type: reg
Provision Reference: reg 18
Character Range: 19471–20311

18  Amount of compulsory run‑off cover administration payment
 (1) The amount of the payment for a contribution year is worked out by multiplying the amount for the year in the table in subsection (2) by:
 (a) the number of medical practitioners for whom the medical indemnity insurer provided medical indemnity cover by contracts of insurance for which premiums were paid to the insurer during the period by reference to which the amount of the run‑off cover support payment for the contribution year payable by the insurer is worked out; or
 (b) if that number is less than 1,000—1,000.
 (2) The following table sets out amounts for contribution years.

Amounts affecting compulsory run‑off cover administration payments
Item                                                                Contribution year starting on 1 July  Amount ($)