36Objections to assessments

36 Objections to assessments

36 Objections to assessments

(1) An insurance company may object to an assessment of an over-collection amount within—

(a) 21 days after notice of the assessment is given to the insurance company, or

(b) a longer period decided by the Monitor and specified in the notice of assessment.

(2) An objection must—

(a) be made in writing to the Monitor, and

(b) specify the grounds of the objection.

(3) Only 1 objection may be made by an insurance company to an assessment.

(4) The insurance company has the onus of establishing the grounds of the objection.

(5) An objection is not duly made unless the objection is made in accordance with this section.