Document ID: chunk:federal_register_of_legislation:F2024C00882:reg:96
Version: federal_register_of_legislation:F2024C00882
Segment Type: reg
Provision Reference: reg 96
Character Range: 362868–363604

96  Proportionate rebate of premium for insurance over mortgaged property
  For subsection 149(4) of the Code, the manner of calculating the proportionate rebate of premium is to calculate the sum of:
 (a) the amount of premium paid in respect of any period of the insurance contract that has not yet commenced; and
 (b) 90% of the proportion of the amount of the premium for insurance paid in respect of the current period of the insurance contract attributable to the unexpired portion of that period consisting of whole months.
Note: Subsection 149(4) of the Code provides that the regulations may prescribe the manner of calculating the proportionate rebate of premium for the purposes of section 149.

Part 7‑8—Comparison rates