3. Premium year
Feedback & supportFor the purposes of the definition of “premium year” in section 2(1) of the Act and subject to paragraph (2), the Authority hereby prescribes a premium year under section 12(4) of the Act to be the period beginning on 1st April of any year and ending on 31st March of the following year.
The first premium year shall be the period beginning on 1st May 2011 and ending on 31st March 2012.
Subregulation 1
For the purposes of the definition of “premium year” in section 2(1) of the Act and subject to paragraph (2), the Authority hereby prescribes a premium year under section 12(4) of the Act to be the period beginning on 1st April of any year and ending on 31st March of the following year.
Subregulation 2
The first premium year shall be the period beginning on 1st May 2011 and ending on 31st March 2012.