Commissioner to make final 2-year assessment
19 Commissioner to make final 2-year assessment
The Commissioner must make an assessment, in relation to each insurance company that was required to make SES contributions in the final year of the scheme or the previous financial year, of the total amount of SES contributions payable by the insurance company for the final 2 years of the scheme (a final 2-year assessment).
The final 2-year assessment is to consist of the total of the following amounts, as assessed by the Commissioner—
the final contribution payable by the insurance company for the final year of the scheme (excluding any insurer loading payable by the insurance company),
the total of SES contributions payable by the insurance company for the financial year commencing on 1 July 2015.
The Commissioner is to give the final 2-year assessment to the Monitor.
The Commissioner must give to the Monitor a final 2-year assessment in relation to an insurance company within 30 days after making an assessment of the final contribution payable by the insurance company for the final year of the scheme.
This Act’s bill:Explanatory memorandum
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