Western Australian Consolidated Acts Western Australian Consolidated Acts (1) A Division 4
insurer must, for each month in which the insurer is paid a premium or an
instalment in respect of a contract of insurance entered into by or on behalf
of the insurer, notify the Commissioner in the approved form, of —
(a) each
such contract of insurance for which the insurer has been paid a premium or
instalment in that month; and
(b) the
amounts of those premiums or instalments,
on or before the 21 st
day after the end of the month.
Penalty: $5 000.
(2) An intermediary of
a Division 4 insurer must, for each month in which the intermediary
receives a premium or an instalment in respect of a contract of insurance for
a Division 4 insurer, notify the Commissioner in the approved form,
of —
(a) each
contract of insurance for which the intermediary has received a premium or
instalment for a Division 4 insurer; and
(b) the
amounts of those premiums or instalments,
on or before the 21 st
day after the end of the month.
Penalty: $5 000.
(3) If a person
complies with a requirement in subsection (1) or (2) in respect of a
contract of insurance then the requirement in the other subsection is to be
taken to have been complied with.
[Section 95B inserted by No. 36 of 2005
s. 6.]
[Heading inserted by No. 36 of 2005 s. 6.]