(1)  The maximum premium for a 12-month period that the Board may determine to be payable at any time in the second year in respect of a motor vehicle of any class (other than class 4, 5, 7, 17, 18, 20 or 23) is the product, rounded to the nearest whole dollar, of –

(a) the maximum premium specified in Schedule 1 for that class of motor vehicle; and

(b) the escalator index for the second year.

(2)  The maximum premium for a 12-month period that the Board may determine to be payable at any time in the second year in respect of a motor vehicle of class 4, 5 or 20 is the product, rounded to the nearest whole dollar, of –

(a) the maximum premium specified in Schedule 1 for that class of motor vehicle; and

(b) the sum of the escalator index for the second year and 0.05.

(3)  The maximum premium for a 12-month period that the Board may determine to be payable at any time in the second year in respect of a motor vehicle of class 7 is the product, rounded to the nearest whole dollar, of –

(a) the maximum premium specified in Schedule 1 for that class of motor vehicle; and

(b) the sum of the escalator index for the second year and 0.0198.

(4)  The maximum premium for a 12-month period that the Board may determine to be payable at any time in the second year in respect of a motor vehicle of class 17 is the product, rounded to the nearest whole dollar, of –

(a) the maximum premium specified in Schedule 1 for that class of motor vehicle; and

(b) the sum of the escalator index for the second year and 0.0378.

(5)  The maximum premium for a 12-month period that the Board may determine to be payable at any time in the second year in respect of a motor vehicle of class 18 is the product, rounded to the nearest whole dollar, of –

(a) the maximum premium specified in Schedule 1 for that class of motor vehicle; and

(b) the sum of the escalator index for the second year and 0.0295.

(6)  The maximum premium for a 12-month period that the Board may determine to be payable at any time in the second year in respect of a motor vehicle of class 23 is the product, rounded to the nearest whole dollar, of –

(a) the maximum premium specified in Schedule 1 for that class of motor vehicle; and

(b) the sum of the escalator index for the second year and 0.0678.

(7)  An amount that is dollars and a number of cents is rounded to the nearest dollar –

(a) if the number of cents is 50 or more, by increasing that amount to the next whole dollar; or

(b) if the number of cents is less than 50, by deducting those cents from that amount.