Re-evaluation of levy
242.4(1)The provincial authority shall annually re-evaluate the accuracy of the levy estimate and shall make adjustments if necessary.
242.4(2)The provincial authority shall give notice to an insurer of an adjustment made under subsection (1) to the estimated levy.
242.4(3)If the adjusted amount is greater than the estimated levy, the insurer, when making the next quarterly payment under subsection 242.3(4), shall remit payment of the adjusted amount to the Minister.
242.4(4)If the adjusted amount is less than the estimated levy, the insurer shall credit the surplus amount to the next quarterly payment.
242.4(5)No interest is payable on the surplus or deficit resulting from the re-evaluation by the provincial authority under subsection (1).
1992, c.83, s.1; 2008, c.2, s.11; 2013, c.31, s.20; 2019, c.29, s.74; 2021, c.8, s.39