(1) If —
(a) a
general insurer has paid duty in respect of a contract of insurance; and
(b) the
insurer has refunded some or all of the premium for the contract,
the insurer is
entitled to a refund of the duty paid to the extent to which the premium was
refunded.
(2) If —
(a) a
person has paid duty in respect of a contract of insurance; and
(b) the
insurer has refunded some or all of the premium for the contract,
the person is entitled
to a refund of the duty paid to the extent to which the premium was refunded.
(3) For the purposes
of this section, an insurer refunds an amount of a premium if the insurer or
an intermediary of the insurer —
(a)
repays the amount to the insured person; or
(b)
otherwise provides a benefit to the insured person to the value of the amount
refunded.