179GRegulations about temporary fund

179G Regulations about temporary fund (1) A regulation may make provision in relation to the temporary fund, including— (a) the imposition of levies on insurers for the fund; and (b) payments from the fund. (2) In particular, a regulation may make provision in relation to— (a) levies for the fund, including their rate; and (b) payments to the fund, including contributions by the Territory to the fund; and (c) payments from the fund, including the information insurers claiming an entitlement to reimbursement from the fund must give to the fund’s manager.

(3) However, a regulation must not impose a levy for a period that is— (a) for a licensed insurer—more than 10% of the premiums received by the insurer in relation to compulsory insurance policies issued by the insurer that begin during the period; and (b) for a licensed self-insurer—more than 10% of the estimated premium that would have been payable by the licensed self-insurer for a compulsory insurance policy obtained by the licensed self-insurer that began at the beginning of the period.