Australian Capital Territory Numbered Regulations

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ROAD TRANSPORT (THIRD-PARTY INSURANCE) REGULATIONS 2000 (2000 NO 6) - REG 13

Increases in premium during term of policy (TPI reg 17)

(1)      This regulation applies if, while a third-party policy is in force for a vehicle—

        (a)     a change is made—

              (i)     in the construction, use or ownership of the vehicle; or

              (ii)     in the place where it is usually garaged; and

        (b)     because of the change, a higher premium than the premium paid on the policy could be charged if a new third-party policy were issued for the vehicle.

(2)      The owner of the motor vehicle is liable to pay an additional premium from the day of the change worked out in accordance with the following formula:

$0.25

(3)      In subregulation (2)—

P1 means the premium originally paid.
P2 means the higher premium for the term of the original policy.
N1 means the number of months of the original policy (counting part of a month as 1 month).
N2 means the remaining number of months of the policy (counting part of a month as 1 month).


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