36Notice that insurer is no longer liable for contributions

36 Notice that insurer is no longer liable for contributions

36 Notice that insurer is no longer liable for contributions

(1) An insurer who ceases to receive, and to be entitled to receive, premiums for relevant insurance must, within 30 days of ceasing to receive and being entitled to receive the premiums, lodge with the Chief Commissioner a written statement advising the Chief Commissioner of that fact.

(2) In this section—

insurer includes any person who has been assessed as liable for a contribution for the financial year or the previous financial year, whether or not the person is still an insurer.

Note—

It is an offence under section 57 of the Taxation Administration Act 1996 to fail to lodge a statement as required by this section.