Victorian Numbered Acts

BUILDING A BETTER VICTORIA (STATE TAX AND OTHER LEGISLATION AMENDMENT) ACT 2014 (NO. 40 OF 2014) - SECT 4

    (1)     In the Duties Act 2000 —

        (a)     section 175(4) is repealed ;

        (b)     at the foot of section 176(2) insert —

" Note

General insurance also includes life insurance policy riders—see section 196B.";

        (c)     in section 176(3) omit "life insurance or";

        (d)     in section 180 omit "general".

    (2)     For section 183(1) of the Duties Act 2000 substitute —

    "(1)     An insurer or a person to whom section 181 applies is entitled to a refund of duty if the insurer refunds, or there is refunded to the person, the whole or a part of a dutiable premium in respect of the contract of insurance for which duty has been paid.".

    (3)     For section 183(3) of the Duties Act 2000 substitute —

    "(3)     An insurer to whom duty is refunded may apply the amount of the refund to offset any other payment required to be made under this Act by the insurer.".

    (4)     In the Duties Act 2000 —

        (a)     in section 183—

              (i)     in subsection (4), for "a general insurer" substitute "an insurer";

              (ii)     in subsection (5) omit "general" (wherever occurring);

        (b)     in the heading to Division 2 of Part 2 of Chapter 8, for " a general insurer " substitute " an insurer ".