Declaring the amount of the levy
24 Declaring the amount of the levy
The
Governor may, by notice published in the Gazette on the recommendation of the Minister, declare the amount of the levy.
The notice must—
divide motor vehicles into the same classes as the premium classes for motor vehicles determined by the CTP Regulator for the purposes of the Compulsory
Third Party Insurance Regulation Act 2016 (as at the time of publication of the notice) and must specify the amount of the levy in respect of each class; and
specify the amount of the levy in respect of vessels; and
specify the financial year or financial years in relation to which the notice applies.
The amount of the levy specified in the notice in respect of a particular class of motor vehicle will be the amount of the levy for the financial year or financial years in relation to which the notice applies despite any change in motor vehicle classifications referred to in subsection (2)(a).
The notice may declare the amount of the levy in respect of one, or two or more, financial years specified in the notice.
The notice must be published before the commencement of the financial year or financial years in relation to which it will apply.
Where the period of registration in relation to which the levy is payable is the whole of a particular financial year, the amount payable is the amount of the levy for that year.
Where the period of registration in relation to which the levy is payable falls wholly within, but is less than, the period of a financial year, the amount payable is the appropriate proportion of the levy for that year.
Where the period of registration in relation to which the levy is payable falls partly in one financial year and partly in a subsequent financial year or years, the levy will be made up of the appropriate proportion of the levy payable in respect of each year (the amount payable on registration will be determined on the assumption that the amount of the levy to be declared in respect of a subsequent year or years will be the same as the levy declared in respect of the year in which the period of registration commences).
After the first notice declaring a levy under subsection (1) has been published in the Gazette, the Governor must not declare a further levy under that subsection in respect of a subsequent year or years unless—
the amount of the levy declared in respect of each class of motor vehicle and in respect of vessels is the same as, or less than, the amount of the levy declared by the first notice; or
the notice declaring the levy has been authorised by a resolution passed by both Houses of Parliament.
This Act’s bill:Second reading speech
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