Victorian Consolidated Legislation

Metropolitan Fire Brigades Act 1958 - SECT 40A

Determination of provisional contributions

40A. Determination of provisional contributions

The Board must issue a determination of the provisional contribution of each
insurance company as follows-

   (a)  for the quarter beginning 1 July-

   (i)  the aggregate of all provisional contributions by all insurance
        companies must equal 25% of the total amount to be contributed by
        insurance companies under section 37(1)(c); and

   (ii) the portion to be contributed by each insurance company must bear the
        same proportion to the whole contribution by insurance companies as
        the portion of gross premiums shown in the insurance company's return
        bears to the aggregate portions of gross premiums shown in all returns
        in respect of the previous preceding financial year; and

   (iii) the amounts of provisional contributions are to be paid to the Board
        by 1 July;

   (b)  for the quarters beginning 1 October, 1 January and 1 April-

   (i)  the aggregate of all provisional contributions by all insurance
        companies must equal 75% of the total amount to be contributed by
        insurance companies under section 37(1)(c); and

   (ii) the portion to be contributed by each insurance company must bear the
        same proportion to the whole contribution by insurance companies as
        the portion of gross premium shown in the insurance company's return
        bears to the aggregate portions of gross premiums shown in all returns
        in respect of the preceding financial year; and

   (iii) for the purposes of this paragraph the amount of gross premiums shown
        in all returns excludes the amount of gross premiums returned by any
        insurance company which has failed within 45 days of the due date to
        pay the whole or any part of the provisional contributions payable by
        that insurance company under paragraph (a); and

   (iv) unless section 41 or 43 applies, the amounts to be contributed under
        this paragraph are to be paid to the Board in equal quarterly
        instalments on 1 October, 1 January and 1 April in each financial
        year.