Victorian Consolidated Legislation

Metropolitan Fire Brigades Act 1958 - SECT 40B

Final calculation of contribution

40B. Final calculation of contribution



(1) The Board must make a final calculation of the contribution of each
insurance company for the financial year in respect of which the return is
lodged in accordance with the following formulae-

   (a)  in the case of an insurance company which has lodged a return in
        respect of that financial year but was not required to lodge a return
        in respect of the preceding financial year-



   (b)  in the case of an insurance company which, in respect of that
        financial year-

   (i)  has paid all of its provisional contributions under section 40A; or

   (ii) has paid part of its provisional contributions under section 40A and
        the remainder of its provisional contributions under any notice issued
        under section 43(1)(b) or 43(1)(c) within that financial year; or

   (iii) has paid all of its provisional contributions under any notice issued
        under section 43(1)(b), within that financial year-





   (c)  in the case of an insurance company which, in respect of that
        financial year, has not paid any of its provisional contributions
        under section 40A or 43(1)(b)-



   (d)  in the case of an insurance company which, in respect of that
        financial year-

   (i)  has paid part of its provisional contributions for that financial year
        and within that financial year-

                (A)  under section 40A; or

                (B)  under any notice issued under section 43(1)(b) or
                     43(1)(c) during that financial year; or

                (C)  under section 40A and any notice issued under section
                     43(1)(b) or 43(1)(c) during that financial year-
and was either-

   (ii) required to pay a contribution in accordance with any notice issued
        under section 41(3), 41(4)(a) or 41(5)(d); or

   (iii) required to pay provisional contributions under any notice issued
        under section 43(1)(b) or 43(1)(c), but did not pay all or any part of
        those contributions within that financial year-



                (A)  in respect of amounts referred to under paragraph (d)(i)-

                (B)  in respect of amounts referred to under paragraphs
                     (d)(ii) and (d)(iii)-

(2) If the final calculation of, or the sum of the final calculations of,
contributions in respect of an insurance company is more or less than the
contribution paid or payable by that insurance company in respect of that
financial year, the Board must make a determination of the additional amount
that is to be paid by, or of the payment that is due to, the insurance company
determined as follows-

   (a)  in the case of an insurance company to which subsection (1)(a)
        applies, the amount under subsection (1)(a);

   (b)  in the case of an insurance company to which subsection (1)(b)
        applies, the amount under subsection (1)(b) less X;

   (c)  in the case of an insurance company to which subsection (1)(c)
        applies, the amount under subsection (1)(c) less Y, provided Y is not
        more than that amount, in which case no adjustment is to be made;

   (d)  in the case of an insurance company to which subsection (1)(d)
        applies, the sum of-

   (i)  the amount calculated in respect of amounts referred to in subsection
        (1)(d)(i), less X; and

   (ii) the amount calculated in respect of amounts referred to in subsections
        (1)(d)(ii) and (1)(d)(iii), less Y, provided Y is not more than that
        amount, in which case no adjustment is to be made in respect of
        amounts referred to in subsections (1)(d)(ii) and (1)(d)(iii).

(3) The Board must issue each insurance company with a notice of the
calculation relating to that insurance company under subsection (1) and the
amount determined in respect of that insurance company in accordance with
subsection (2).

(4) The amount determined in respect of an insurance company under subsection
(2) must be added to, or subtracted from, the instalment due to be paid by
that insurance company for the quarter beginning 1 October or, if section
41(3), 41(4) or 41(5) applies, the quarter beginning 1 January, in the
financial year in which the return is lodged.

(5) Where no instalment is due to be paid by an insurance company at a time
when an adjustment in accordance with subsection (4) would otherwise be made,
the Board must-

   (a)  in a case where a determination has been made of an additional amount
        that is to be paid by the insurance company, by notice require the
        insurance company to pay that amount within the period specified by
        the Board in the notice; and

   (b)  in a case where a determination has been made of an amount that is due
        to the insurance company, apply that amount against any amount owing
        by that insurance company to the Board and refund the remainder within
        a reasonable period.

(6) In this section-

A means the proportion of provisional contributions paid by an insurance
company under section 40A and, within that financial year, under any notice
issued under section 43(1)(b) or 43(1)(c) during that financial year.

B means the sum of the provisional contributions paid by insurance companies
under any notices issued under section 43(1)(b) or 43(1)(c), during the year
for which final calculations are being made, but not including payments made
under those notices if those payments were made during the periods specified
in those notices.

C means the total amount required to be contributed by all insurance companies
under section 37.

Pa means the sum of the amounts of the portions of gross premiums specified in
the return of each insurance company multiplied by the proportion of
provisional contributions paid by each insurance company under section 40A
and, within that financial year, under any notice issued under section
43(1)(b) or 43(1)(c) during that financial year.

Pb means the sum of the amounts of the portions of gross premiums specified in
the return of each insurance company which has made a return in respect of
that financial year but was not required to lodge a return in respect of the
preceding financial year.

Pi means the amount comprising the portion of gross premiums specified in the
return of the insurance company in respect of which a final calculation is
being made.

X means the total amount of provisional contributions paid by the insurance
company in respect of which a final calculation is being made, under section
40A and, within that financial year, under any notice issued under section
43(1)(b) or 43(1)(c) during that financial year.

Y, in relation to an insurance company in respect of which a final calculation
is being made, means-

   (a)  the total amount of payments made or payable by the insurance company
        under any notice issued under section 41(3), 41(4)(a) or 41(5)(d); or

   (b)  the total amount of provisional contributions payable by the insurance
        company under any notice issued during the financial year under
        section 43(1)(b) or 43(1)(c), but not including any amounts which have
        been paid during that financial year.