New South Wales Consolidated Acts

INSURANCE PROTECTION TAX ACT 2001 - SECT 20

20 Cessation of business and cancellation of registration by the insurer

(1) A registered insurer that ceases to write general insurance business in New South Wales must, within 1 month after it ceases to write that business:

(a) give written notice of that fact to the Chief Commissioner, and

(b) lodge the return required to be lodged under section 6 if the return has not been lodged for the year, and

(c) on or before the twenty-first day of the month after which the notice is given, pay the tax for which it is liable for the year, except to the extent (if any) to which that tax has been paid.

Maximum penalty: 100 penalty units.

(2) The notice cancels the insurer’s registration under this Part on the day on which it is received by the Chief Commissioner.