164AContributions by approved insurers and self-insurers

164A Contributions by approved insurers and self-insurers (1) If the Minister approves a recommendation of the Nominal Insurer made under section 164(1)(d), each approved insurer and self-insurer must contribute to the Fund an amount determined by the Nominal Insurer in accordance with the Regulations. (3) An approved insurer or self-insurer must pay to the Nominal Insurer the amount that he or she is required by this section to contribute to the Fund in the instalments, and at the times, that are determined by the Nominal Insurer. (4) The Nominal Insurer must, in writing, notify each approved insurer and self-insurer of particulars of the contribution, including the amounts of the instalments and the times at which they are payable, that the approved insurer or self-insurer is required by this section to contribute to the Fund. (5) If an approved insurer or self-insurer fails to pay the full amount of an instalment within 30 days after the time specified in a notice under subsection (4): (a) the full amount of the contribution to be paid or the full amount of the balance then remaining unpaid (as applicable) is immediately payable and is a debt due to the Nominal Insurer by the approved insurer or self-insurer; and (b) the approved insurer or self-insurer is guilty of a regulatory

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