DUTIES ACT 2000 - SECT 188 Cessation of business and cancellation of registration by the insurer

DUTIES ACT 2000 - SECT 188

    (1)     A registered insurer who ceases to write general insurance in Victoria—

        (a)     must, within 14 days after so ceasing—

              (i)     give written notice of that fact to the Commissioner; and

              (ii)     lodge the return required to be lodged under this Part; and

        (b)     must pay the duty payable in connection with the return on or before the 21st day of the month after which the notice is given.

Penalty:     100 penalty units.

Note to

s. 188(1) inserted by No. 13/2013 s. 56(2).

Note

Section 130B of the Taxation Administration Act 1997 applies to an offence against this subsection.

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

S. 189 (Heading) inserted by No. 40/2014 s. 6(f).