s. 44A (3) The insurance intermediary or owner of the S. 44A(3) property insured must within 14 days after the amended by No. 5/1991 owner of the property insured has paid the s. 4(4)(5), premium pay to the Board as a contribution an substituted by No. 51/2005 amount equal to together with an amount equal to s. 71. one per cent of the portion of the premium shown in the return lodged under subsection (2). 10 penalty units and an additional penalty of double the amount that would have been payable under this subsection if this subsection had been complied with. (3A) If the return under subsection (2) is lodged by an S. 44A(3A) inserted by insurance intermediary, the gross premiums No. 51/2005 shown in the return must— s. 71. (a) include any commissions or discounts; (b) include a notional premium for deductibles of $10 000 or more calculated in accordance with the prescribed formula; (c) exclude any amounts received or due to the insurance company in respect of reinsurance contracts or agreements. (3B) If subsection (3A)(b) applies, the return must S. 44A(3B) inserted by include the prescribed details in the manner and No. 51/2005 form prescribed for the purposes of this s. 71. subsection. (3C) For the purposes of this section, the return must S. 44A(3C) inserted by include as a discount any reduction in gross No. 51/2005 premiums as a result of the use of net rating in s. 71. relevant policies of insurance against fire issued by the insurance intermediary. (3D) In subsection (3C), means any practice S. 44A(3D) net rating inserted by or device adopted by an insurance company No. 51/2005 involving the waiving of commission or brokerage s. 71. by an insurance intermediary which has the effect
S. 44A(3) amended by No. 5/1991 s. 4(4)(5), substituted by No. 51/2005 s. 71. (3) The insurance intermediary or owner of the property insured must within 14 days after the owner of the property insured has paid the premium pay to the Board as a contribution an amount equal to together with an amount equal to one per cent of the portion of the premium shown in the return lodged under subsection (2). 10 penalty units and an additional penalty of double the amount that would have been payable under this subsection if this subsection had been complied with. S. 44A(3A) inserted by No. 51/2005 s. 71. (3A) If the return under subsection (2) is lodged by an insurance intermediary, the gross premiums shown in the return must— s. 44A (a) include any commissions or discounts; (b) include a notional premium for deductibles of $10 000 or more calculated in accordance with the prescribed formula; (c) exclude any amounts received or due to the insurance company in respect of reinsurance contracts or agreements. S. 44A(3B) inserted by No. 51/2005 s. 71. (3B) If subsection (3A)(b) applies, the return must include the prescribed details in the manner and form prescribed for the purposes of this subsection. S. 44A(3C) inserted by No. 51/2005 s. 71. (3C) For the purposes of this section, the return must include as a discount any reduction in gross premiums as a result of the use of net rating in relevant policies of insurance against fire issued by the insurance intermediary. S. 44A(3D) inserted by No. 51/2005 s. 71. (3D) In subsection (3C), net rating means any practice or device adopted by an insurance company involving the waiving of commission or brokerage by an insurance intermediary which has the effect
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