(1) If an insurance company gives the Commissioner a return under section 116 for a financial year, the Commissioner must calculate the rural fire brigade contribution payable by the insurance company for the year assessed in accordance with the following formula:
a is the total amount of premiums subject to contribution specified in the return made by the company.
b is the total amount of rural fire brigade contributions payable by all insurance companies for the financial year to which the return relates.
c is the total amount of all premiums subject to contribution specified in returns under section 116 made by all insurance companies for the financial year.(2) For the purposes of subsection (1), the amount of premiums subject to contribution for an insurance company for a financial year is the amount of the proportion of premiums received by or due to the company for relevant insurance for the financial year indicated in Schedule 2.