Duties Act 1997 No 123
Historical version for 2 April 2002 to 20 June 2002 (accessed 22 December 2014 at 02:07) Current version
Chapter 8Part 1Section 229

229   Imposition of duty

(1)  This Part charges duty on the amount of the premium paid in relation to a contract of insurance that effects general insurance (whether or not it also effects other kinds of insurance).
(2)  The amount of duty is required to be paid each time a premium is paid in relation to a contract of insurance that effects general insurance.
Notes. 

(1)   General insurance is defined in section 230.

(2)   Premium is defined in section 231.

(3)   The time at which a premium is paid is determined by section 232.

(4)   Generally, the insurer to whom the premium is paid is the person liable to pay the duty. But there are circumstances in which the person insured is liable to pay the duty. These circumstances are set out in section 236.

(5)   To facilitate payment of duty, insurers must register themselves with the Chief Commissioner, submit a monthly return showing the total amount of premiums paid to them for general insurance during the preceding month and pay the appropriate amount of duty when submitting the return. The provisions that deal with this are in Part 3.

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