Western Australian Numbered Acts Western Australian Numbered Acts (1) An insurer that is
not a general insurer must, for each month in which the insurer is paid a
premium or an instalment of a premium 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 an
instalment of a premium 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: a fine of $5 000.
(2) An intermediary of
an insurer that is not a general insurer must, for each month in which the
intermediary receives a premium or an instalment of a premium in respect of a
contract of insurance on behalf of the insurer, notify the Commissioner in the
approved form of —
(a) each
such contract of insurance for which the intermediary has received a premium
or an instalment of a premium on behalf of the insurer; and
(b) the
amounts of those premiums or instalments,
on or before the 21 st
day after the end of the month.
Penalty: a fine of $5 000.
(3) The Commissioner
may make a special tax return arrangement under the
Taxation Administration Act section 49 with a person referred to in
subsection (1) or (2) that modifies the requirements in
subsection (1) or (2) and the arrangement has effect accordingly.
(4) If a person
complies with a requirement (including a modified requirement) in
subsection (1) or (2) in respect of a contract of insurance then the
requirement in the other subsection is taken to have been complied with in
respect of that contract.