27Use of estimates—failure to lodge return

27 Use of estimates—failure to lodge return

27 Use of estimates—failure to lodge return

If an insurer fails to lodge with the Chief Commissioner a return relating to a financial year by the return date—

(a) the Chief Commissioner may estimate the total amount of premiums subject to contribution for that insurer for the financial year for which the return is required using any information available to the Chief Commissioner (including information from previous returns, if any), and

(b) that estimate is taken to be the total amount of premiums subject to contribution of that insurer for that financial year.