Acts and Regulations

2009-85 - Levy Interest Rate

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Current to 1 January 2024
NEW BRUNSWICK
REGULATION 2009-85
under the
Insurance Act
(O.C. 2009-318)
Filed July 27, 2009
Under subsection 267.9(1) of the Insurance Act, the Lieutenant-Governor in Council makes the following Regulation:
Citation
1This Regulation may be cited as the Levy Interest Rate Regulation - Insurance Act.
Definition of “Act”
2In this regulation, “Act” means the Insurance Act.(Loi)
Interest rate - unpaid levy
3 The interest rate for the purpose of section 242.7 of the Act is 1.06% per month compounded monthly or 13.5% per year.
Commencement
4This Regulation comes into force on August 1, 2009.
N.B. This Regulation is consolidated to July 27, 2009.