147Contributions to Fund by licensed insurers and self-insurers

### 147 Contributions to Fund by licensed insurers and self-insurers > > (1)  Each licensed insurer and self-insurer shall pay to the Board the contributions prescribed by this section for payment into the Fund. > > > (2)  [*\[Section 147 Subsection (2) substituted by No. 99 of 2000, s. 73, Applied:01 Jul 2001\]*](/view/html/inforce/2001-07-01/act-2000-099#GS73@EN) The contribution to be paid by a licensed insurer in respect of each financial year is an amount equal to the greater of the following: > > > > > > (a) the percentage, determined by the Minister on the recommendation of the Board, of the premium income of the licensed insurer in respect of that financial year; > > > > > > > (b) the prescribed amount. > > > (3)  [*\[Section 147 Subsection (3) substituted by No. 99 of 2000, s. 73, Applied:01 Jul 2001\]*](/view/html/inforce/2001-07-01/act-2000-099#GS73@EN) The contribution to be paid by a self-insurer in respect of each financial year is an amount equal to the greater of the following: > > > > > > (a) the percentage, determined by the Minister on the recommendation of the Board, of the notional premium of the self-insurer in respect of that financial year; > > > > > > > (b) the prescribed amount. > > > (4)  The percentage determined by the Minister pursuant to [subsections (2)](#GS147@Gs2@EN) and [(3)](#GS147@Gs3@EN) – > > > > > > (a) shall be such as will be sufficient to yield the total amount to be contributed to the Fund by licensed insurers and self-insurers in respect of the relevant financial year as determined pursuant to [section 146](#GS146@EN) ; and > > > > > > > (b) shall be the same percentage for all licensed insurers and for all self-insurers. > > > (5)  A contribution by a licensed insurer is payable at such times and in respect of premium income received during such periods as may be determined by the Board and notified to the licensed insurer. > > > (6)  A contribution by a self-insurer is payable in such instalments and at such times as may be determined by the Board and notified to the self-insurer. > > > (7)  *\[Section 147 Subsection (7) amended by No. 16 of 1995, s. 78 \]*If a contribution payable by a licensed insurer or a self-insurer has not been paid within the time prescribed by or under this section – > > > > > > (a) the licensed insurer or self-insurer is guilty of an offence and liable on summary conviction to a fine not exceeding 100 penalty units; and > > > > > > > (b) the amount of that contribution together with interest calculated at the rate referred to in [section 92](#GS92@EN) [(2)](#GS92@Gs2@EN) [(b)](#GS92@Gs2@Hpb@EN) may be recovered by the Board as a debt due to it in any court of competent jurisdiction. > > > (8)  Subject to [subsection (4)](#GS147@Gs4@EN) , more than one percentage may be determined by the Minister for different portions of a financial year for the purposes of [subsection (2)](#GS147@Gs2@EN) or [(3)](#GS147@Gs3@EN) . > > > (9)  A certificate executed by the Board as to the amount of a contribution payable under this section by a licensed insurer or self-insurer specified in the certificate and the due date for payment is (without proof of its execution by the Board) admissible in proceedings under this section and is evidence of the matters specified in the certificate. > > > (10)  The obligation of a person, being a self-insurer, to make a contribution under this section in respect of any period during which the person was a self-insurer does not cease merely because the person subsequently ceases to be a self-insurer.