Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The amount of the run - off cover support payment imposed on a medical indemnity insurer for a contribution year is the applicable percentage of the insurer's premium income for:
(a) the period of 12 months ending on 31 May in the contribution year; or
(b) such other period as is specified in the regulations.
(2) The applicable percentage is:
(a) 15%; or
(b) such lower percentage as is specified in the regulations for the contribution year.
(3) Regulations made for the purposes of paragraph ( 1)(b) may specify a different period for a particular medical indemnity insurer or class of medical indemnity insurers. If they do so, the reference in subsection ( 1) to the period is taken, in its application to that insurer or to an insurer of that class, to be a reference to that period for that insurer or class.
(4) Regulations made for the purposes of paragraph ( 2)(b) may specify a different applicable percentage for a particular medical indemnity insurer or class of medical indemnity insurers. If they do so, the reference in subsection ( 1) to the applicable percentage is taken, in its application to that insurer or to an insurer of that class, to be a reference to that percentage for that insurer or class.