Document ID: chunk:federal_register_of_legislation:C2008A00104:section:5
Version: federal_register_of_legislation:C2008A00104
Segment Type: section
Provision Reference: s 5
Character Range: 4151–4863

5  Amount of levy

 (1) The amount of levy is the amount worked out in accordance with the regulations.

 (2) However, the amount of levy on the gross premiums received by a general insurer cannot be more than 5% of the amount, worked out in accordance with the regulations, of those gross premiums.

 (3) The regulations may prescribe:
 (a) different ways of working out for the purposes of subsection (1) the amount of levy on gross premiums received by general insurers in different classes prescribed by the regulations; and
 (b) different ways of working out for the purposes of subsection (2) the amounts of gross premiums received by general insurers in different classes prescribed by the regulations.