Cap. 364 Art. 30Liability to pay duty on policies of insurance.

(1) Any person issuing or signing any policy of insurance referred to in the foregoing articles, shall pay duty thereon in accordance with the provisions of this Act or of any regulations made thereunder.

(2) Any person who fails to comply with the provisions of sub-article (1) shall be liable to pay a penalty of not less than twenty-three euro (23) but not exceeding two hundred and thirty euro (230).

(3) Any person who fails to comply with the provisions of sub-article (1) shall together with the duty assessed in accordance with this Act be liable to interest at a rate as prescribed by the Minister.