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reg 17

MAI premiums for policies for less than 1 year

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Part 4MAI premiums

17 MAI premiums for policies for less than 1 year

(1)

This section applies if a person—

(a)

registers a motor vehicle for less than 1 year; or

(b)

renews the registration of a motor vehicle for less than 1 year; or

(c)

is issued with a trader’s plate for less than 1 year; or

(d)

enters into an MAI policy for a light rail vehicle for less than 1 year.

Note An MAI premium for an MAI policy must be paid when—

(a)

registering a vehicle (see Act, s 298); and

(b)

renewing the registration of a vehicle (see Act, s 299); and

(c)

applying for a trader’s plate (see Act, s 300); and

(d)

intending to use a light rail vehicle (see Act, s 301).

(2)

The maximum MAI premium payable for an MAI policy for the vehicle or plate must be worked out in accordance with the MAI guidelines.

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