Section 18A - Sporting Injuries Insurance Act 1978 - Adjustment of certain premiums

18AAdjustment of certain premiums

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18A Adjustment of certain premiums

(1) In this section—

adjustment notice means a notice served on a sporting organisation under subsection (2).

prescribed variable means—

(a) the number of—

(i) registered participants,

(ii) teams or crews of registered participants,

(iii) vehicles ridden or driven by registered participants, or

(iv) vessels driven or sailed by registered participants,

who or which will participate in authorised activities of sporting organisations, or

(b) any other variable prescribed by the regulations for the purposes of this definition.

(2) If, after the due day for payment of a premium specified in a notice served on a sporting organisation under section 17 (1), the Authority has reasonable grounds to believe that the premium is less than it would have been if an estimate of the quantity of a prescribed variable—

(a) used in the calculation pursuant to which the premium was determined, and

(b) specified in that notice pursuant to section 17 (1) (a) (ii),

had been accurate, the Authority may serve on the organisation a notice requiring it to pay the difference to the Authority.

(3) An adjustment notice shall set forth—

(a) particulars of the notice served under section 17 (1) specifying the premium to which the adjustment notice relates,

(b) particulars of the manner in which the amount required to be paid by the adjustment notice is calculated, and

(c) the day on or before which that amount is payable, being a day occurring not less than 10 days after the date on which the notice is served.

(4) If the amount required to be paid by an adjustment notice is not paid on or before the day specified in the notice under subsection (3) (c) or within such further period as the Authority, by instrument in writing, may allow, the amount required by that notice to be paid by the sporting organisation thereupon becomes a debt recoverable, in any court of competent jurisdiction, by the Authority from the organisation or, where the organisation is—