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WORKERS COMPENSATION REGULATION 2003 - REG 55 Definition of "premium income"

This legislation has been repealed.

WORKERS COMPENSATION REGULATION 2003 - REG 55

Definition of "premium income"

55 Definition of "premium income"

For the purposes of the contribution payable by an insurer under section 220 of the Act for a financial year, premium income (as defined in section 3 (1) of the Act) does not include any part of such a premium which is attributable to:

(a) the application of an excess surcharge factor (as defined in the insurance premiums order in force in respect of that financial year), or
(b) a dust diseases contribution (as so defined), or
(c) a premiums adjustment contribution (as so defined).