sec.12Refund on cancellation of registration

sec.12 Refund on cancellation of registration

This section applies if the registration of a motor vehicle is cancelled before the end of the registration period for the vehicle. The registered operator of the vehicle at the time of the cancellation, or transport administration, may request a refund of the calculated amount from the vehicle’s insurer. The request for the refund must be supported by a written statement from transport administration confirming the cancellation of the registration and the date of the cancellation. The vehicle’s insurer must refund the calculated amount to the registered operator of the vehicle within 1 month after receiving the request for the refund. However, the insurer is not required to give a refund if the calculated amount is less than $10. No right to the refund of a levy or the administration fee arises on cancellation of the registration of a motor vehicle. In this section— calculated amount means the amount worked out using the formula— where— A means the number of days remaining in the registration period. B means the total number of days in the registration period. IP means the insurer’s premium paid for the registration period. (sec.12-ssec.1) This section applies if the registration of a motor vehicle is cancelled before the end of the registration period for the vehicle. (sec.12-ssec.2) The registered operator of the vehicle at the time of the cancellation, or transport administration, may request a refund of the calculated amount from the vehicle’s insurer. (sec.12-ssec.3) The request for the refund must be supported by a written statement from transport administration confirming the cancellation of the registration and the date of the cancellation. (sec.12-ssec.4) The vehicle’s insurer must refund the calculated amount to the registered operator of the vehicle within 1 month after receiving the request for the refund. (sec.12-ssec.5) However, the insurer is not required to give a refund if the calculated amount is less than $10. (sec.12-ssec.6) No right to the refund of a levy or the administration fee arises on cancellation of the registration of a motor vehicle. (sec.12-ssec.7) In this section— calculated amount means the amount worked out using the formula— where— A means the number of days remaining in the registration period. B means the total number of days in the registration period. IP means the insurer’s premium paid for the registration period.