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Introductory Text
PART 1 Introduction
1.Citation and commencement
2.Interpretation
PART 2 Definitions for the purposes of the Act
3.Definition of “relevant insurer”
4.Definition of “flood”
5.Definition of “household premises”
PART 3 FR Scheme Funding
6.Gross written premium
7.Provision of information by relevant insurers
8.Calculation of the levy
9.Payment of the levy by instalments and adjustments to instalments
10.Payment of additional levy or contributions
11.Requirements for request of additional levy or contributions
12.Adjustments to payments of additional amounts
13.Application of levy or contributions collected
14.Recovery of amounts due as a civil debt
PART 4 Reinsurance Premium Thresholds
15.FR Scheme reinsurance premium thresholds: England and Scotland
16.FR Scheme reinsurance premium thresholds: Wales
17.FR Scheme reinsurance premium thresholds: Northern Ireland
18.Relevant valuation band or Flood Re category for household premises
19.Calculation of reinsurance premium thresholds
PART 5 FR Scheme Administration
20.Exercise of the FR Scheme administrator’s functions
21.Restrictions on the exercise of the FR Scheme administrator’s functions
22.Transition to risk reflective pricing of flood insurance
23.The Responsible Officer
24.Powers of the Comptroller and Auditor General
25.Provision of information by the FR Scheme administrator
26.Provision of information to relevant insurers
27.Review and report on the FR Scheme
28.Report on the total amount of contributions requested
PART 6 Amendment of the Act
29.In section 69 of the Act (disclosure of HMRC council...
Signature
SCHEDULE
Reinsurance Premium Thresholds
Explanatory Note