214Contributions to Fund by persons to whom third-party policies issued

214 Contributions to Fund by persons to whom third-party policies issued

214 Contributions to Fund by persons to whom third-party policies issued

(1) The amount determined under section 213 (d) as the total amount to be contributed to the Fund under this Part in respect of a relevant period is to be contributed by the payment to the Authority of a levy (the Fund levy) by persons to whom third-party policies are issued during the relevant period.

(2) The Fund levy is to be an amount determined by the Authority. The Fund levy can be determined as a fixed amount or as a percentage of the premium payable for a third-party policy, or as a combination of a fixed amount and percentage of premium.

(3) A Fund levy can be determined to differ according to any classification or other criteria for the determination of third-party policy premiums as provided for by the Motor Accidents Premiums Determination Guidelines under Part 2.3.

(4) The Authority is to notify each licensed insurer of the Fund levy determined for a relevant period.

s 214: Subst 2006 No 17, Sch 1 [31]. Am 2009 No 26, Sch 1 [11]; 2015 No 19, Sch 7 [6].