Actual annual levy—agreed
20 Actual annual levy—agreed
This section applies if—
the Regulator gave a self-insurer a written notice under section 19(2)(b) stating the amount of the provisional annual levy based on the amount of the self-insurer’s estimated claims liability as calculated by the appointed actuary under section 62; and
the Regulator and the self-insurer have agreed under section 67 on the amount of the self-insurer’s estimated claims liability.
The Regulator must give the self-insurer written notice of the amount of the annual levy (the actual annual levy) under section 81(7) of the Act based on the agreed amount within 14 days after the Regulator and the self-insurer agree to the amount.
If the actual annual levy is more than the provisional annual levy, the self-insurer must pay the Regulator the difference between the actual annual levy and the amount paid as the provisional annual levy.
If the actual annual levy is less than the provisional annual levy, the Regulator must pay the self-insurer the difference between the actual annual levy and the amount paid as the provisional annual levy.
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