Section 14

Section 60 of the principal Act is amended by substituting for paragraph (9)(b) the following paragraph:

“(b) an amount calculated based on the method of computation as determined by the relevant authority regulating the insurance industry and which is consistently applied to premiums first receivable by him in that period in respect of other general policies issued by him (less the amount deducted under subparagraph (5)(b)(ii) or (6)(b)(ii)).”.

Amendment of section 60AA