231 What is a “premium” in relation to general
(1) Premium, in relation to
general insurance, means the total consideration given to an insurer by or on
behalf of the insured person to effect insurance without deductions for any
amounts paid or payable, or allowed or allowable, by way of commission or
discount to an insurance intermediary.
(2) Premium includes a fire
service levy and emergency service levy paid or payable in connection with
insurance by an insurer or any other person.
(3) Premium does not
(a) an amount paid to an insurance intermediary by the insured person
as a fee, provided that the amount can be clearly identified as a fee,
(b) an amount of duty under this or a corresponding
(4) It is immaterial where the amount is paid or where the insurance