sec.349Imposition of insurance duty

### sec.349 Imposition of insurance duty This chapter imposes duty ( insurance duty ) on each of the following— a contract of insurance that effects general insurance; a contract of insurance that effects life insurance; accident insurance. Exemptions for insurance duty are dealt with in part 7 . Also, other exemptions are dealt with in chapter 10 . Insurance duty is imposed on the following— for general insurance— if a regulation states that duty is payable only on a part of the premium—that part of the premium; or otherwise—premiums for the insurance; for life insurance—premiums for the insurance or the sum insured, depending on the type of the insurance; for accident insurance—net premiums charged for the insurance. s 349 amd 2013 No. 28 s 15 (sec.349-ssec.1) This chapter imposes duty ( insurance duty ) on each of the following— a contract of insurance that effects general insurance; a contract of insurance that effects life insurance; accident insurance. Exemptions for insurance duty are dealt with in part 7 . Also, other exemptions are dealt with in chapter 10 . (sec.349-ssec.2) Insurance duty is imposed on the following— for general insurance— if a regulation states that duty is payable only on a part of the premium—that part of the premium; or otherwise—premiums for the insurance; for life insurance—premiums for the insurance or the sum insured, depending on the type of the insurance; for accident insurance—net premiums charged for the insurance. - (a) a contract of insurance that effects general insurance; - (b) a contract of insurance that effects life insurance; - (c) accident insurance. - (a) for general insurance— (i) if a regulation states that duty is payable only on a part of the premium—that part of the premium; or (ii) otherwise—premiums for the insurance; - (i) if a regulation states that duty is payable only on a part of the premium—that part of the premium; or - (ii) otherwise—premiums for the insurance; - (b) for life insurance—premiums for the insurance or the sum insured, depending on the type of the insurance; - (c) for accident insurance—net premiums charged for the insurance. - (i) if a regulation states that duty is payable only on a part of the premium—that part of the premium; or - (ii) otherwise—premiums for the insurance;