8.
| (1) Every insurer who insures or renews an insurance policy in respect of any specified motor vehicle shall"
| | (a) at the time at which he insures or renews an insurance policy in respect of a specified motor vehicle, collect from the registered owner of such vehicle an amount equal to the levy payable by such registered owner, on such specified motor vehicle ; | | |
| | (b) remit the amount so collected to the Commissioner on or before the fifteenth day of the month immediately succeeding the month in which the amount was collected, together with a declaration in such form and containing such particulars as may be specified by the Commissioner. | | |
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| (2) Every insurer who collects any amount in accordance with the provisions of subsection (1), shall duly acknowledge the receipt of the amount so collected, in such manner as may be specified by the Commissioner, |
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| (3) Any amount collected by any insurer from any registered owner of a specified motor vehicle in accordance with the provisions of subsection (1), shall be deemed to have been paid to the Commissioner by such registered owner on the date on which such insurer collected such amount. |
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| (4) Notwithstanding any thing in any other law, any amount collected by any insurer under the preceding provisions of this section and insurer for remittance to the Commissioner shall be deemed not to be such property of such insurer is liable to execution or administration in the event of the bankruptcy, liquidation or dissolution of the business of such insurer or to assignment for the benefit of creditors and such amount shall retain apart from, and form no part of, the estate in liquidation or assignment of such insurer, |
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| (5) Where any Insurer fails to collect, from any registered owner of a specified motor vehicle the levy required to be collected from such registered owner under his Act or where any insurer has collected such amount and has not remitted the amount so collected to the Commissioner on or before the fifteenth day of the month immediately succeeding the month in which such amount was collected, such insurer shall be liable to the amount he was required to collect under the provisions of this Act hut has not collected, or as the case may be, for the amount or part there of, collected and not remitted to the Commissioner and such amount not collected or collected and not remitted, as the case may be, shall be deemed to be in default from the day following the day on which such amount was required to have been remitted to the commissioner and such insurer shall be deemed to be a defaulter, with the meaning of this Act with effect from such date. |
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| (6) Where any insurer is deemed to be a defaulter, under the provisions of subsection (5), the amount of the levy in default, may be recovered from such insurer, in the manner provided for in section 10 and section 11. |
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Sri Lanka Consolidated Acts