New South Wales Consolidated Acts

MOTOR ACCIDENT INJURIES ACT 2017 - SECT 10.16

10.16 Fund levy contribution by persons to whom third-party policies issued

(cf s 214 MACA)

(1) The total of the following amounts is to be contributed by the payment to the Authority of a levy (the
"Fund levy" ) by persons to whom third-party policies are issued during a relevant period--

(a) the amount of the required fund contribution to the SIRA Fund determined under section 10.13 (d) in respect of the relevant period,

(b) the amount of the required fund contribution to the MAITC Benefits Fund determined under section 10.15 (d) in respect of the relevant period,

(c) the amount of the required fund contribution to the LCSA General Fund determined under section 49 of the Motor Accidents (Lifetime Care and Support) Act 2006 in respect of the relevant period.

(2) The Fund levy is to be an amount determined by the Authority. The Fund levy can be determined as a fixed amount or as a percentage of the premium payable for a third-party policy, or as a combination of a fixed amount and percentage of premium.

(3) A Fund levy can be determined to differ according to any criteria that the Authority considers appropriate.

(4) The Authority is to notify each licensed insurer of the Fund levy determined for a relevant period.