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Queensland Building and Construction Commission Regulation 2018
sec.41Refund of part of insurance premium— Act , s 70C
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### sec.41 Refund of part of insurance premium— Act , s 70C
For section 70C of the Act , this section prescribes how to calculate the part of an insurance premium refundable because a variation of the value of residential construction work results in a decrease in the value of the work.
The refundable part of the insurance premium is the difference between the amount of the premium paid for the residential construction work before the variation and the amount of the premium that would have been payable on the decreased value.
(sec.41-ssec.1) For section 70C of the Act , this section prescribes how to calculate the part of an insurance premium refundable because a variation of the value of residential construction work results in a decrease in the value of the work.
(sec.41-ssec.2) The refundable part of the insurance premium is the difference between the amount of the premium paid for the residential construction work before the variation and the amount of the premium that would have been payable on the decreased value.