New South Wales Consolidated Acts

MOTOR ACCIDENTS COMPENSATION ACT 1999 - SECT 214

214 Contributions to Fund by persons to whom third-party policies issued

(1) The amount determined under section 213 (d) as the total amount to be contributed to the Fund under this Part in respect of a relevant period is to be contributed by the payment to the Authority of a levy (the "Fund levy") by persons to whom third-party policies are issued during the relevant period.

(2) The Fund levy is to be an amount determined by the Authority. The Fund levy can be determined as a fixed amount or as a percentage of the premium payable for a third-party policy, or as a combination of a fixed amount and percentage of premium.

(3) A Fund levy can be determined to differ according to any classification or other criteria for the determination of third-party policy premiums as provided for by the MAA Premiums Determination Guidelines under Part 2.3.

(4) The Authority is to notify each licensed insurer of the Fund levy determined for a relevant period.