15.
| (1) The Commissioner shall determine, and may from time to time alter, the amount of the premiums to be paid for insurance policies issued under this Act. |
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| (2) The Commissioner may fix different amounts of premiums for different specified areas or for portions of the same specified area. |
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| (3) Where any land referred to in subsection (4) of section 8 is included in an insurable acreage, the amount of the premiums fixed by the Commissioner for insurance policies issued under this Act in respect of that land may be higher than in any other case. |
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| (4) The amount of a premium in respect of an insurance policy issued under this Act may, according as the Commissioner may decide, be paid-
| | | (b) in a quantity of the insured crop, the value of which is equal to the amount of the premium, such value being computed according to the price for the time being of such crop under the Guaranteed Price Scheme, if that Scheme applies to such crop, or, if that Scheme does not apply to such crop, according to such average of the market prices of the insured crop during the three years immediately preceding the year in which the premium is payable as may be determined by the Commissioner. | | |
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| (5) The premiums in respect of an insurance policy issued under this Act shall be paid, within the time allowed therefor in such policy, to the local insurance agent. |
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| (6) The Commissioner shall notify to the owners and tenants of lands constituting an insurable acreage in a specified area the local insurance agent or agents in respect of that area. |
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Sri Lanka Consolidated Acts