175Imposition of duty

175 Imposition of duty (1) This Chapter charges duty in respect of insurance in accordance with this section. (2) Part 2 charges duty on the amount of the premium paid in relation to a contract of insurance that effects general insurance (whether or not it also effects other kinds of insurance). (3) The amount of duty is required to be paid each time a premium is paid in relation to a contract of insurance that effects general insurance. S. 175(4) repealed by No. 40/2014 s. 4(1)(a). (5) Part 4 charges duty as set out in section 209. Part 2—General insurance Division 1—Duty in respect of general insurance 176 What is general insurance? (1) ***General insurance*** is any kind of insurance that is applicable to— (a) property in Victoria; or (b) a risk, contingency or event concerning an act or omission that, in the normal course of events, may occur within, or partly within, Victoria— or both. (2) ***General insurance*** includes insurance effected in respect of trauma or a disabling or incapacitating injury, sickness, condition or disease. Note to s. 176(2) inserted by No. 40/2014 s. 4(1)(b). General insurance also includes life insurance policy riders—see section 196B. S. 176(3) amended by No. 40/2014 s. 4(1)(c). (3) ***General insurance*** does not include insurance that is exempt from duty by Division 5.