| (1) | The special SAM levy, in respect of a long -term insurer— |
| (a) | authorised in terms of the Long -term Insurance Act to enter into one or more than one assistance policy, disability policy, fund policy, health policy, life policy or sinking fund policy, is the special SAM levy Rand amount which the long-term insurer paid in the previous levy year increased by 6%; or |
| (b) | other than a microinsurer, licensed in terms of the Insurance Act to conduct life insurance business in one or more than one of the following classes as set out in Table 1 of Schedule 2 of the Insurance Act: |
| (dd) | LIFE ANNUITIES class; |
| (ee) | INDIVIDUAL INVESTMENT class; |
| (ff) | FUND INVESTMENT class; |
| (gg) | INCOME DRAWDOWN class; |
is the special SAM levy Rand amount which the long -term insurer paid in the previous levy year increased by 6%.
| (a) | who as at 1 April of the previous levy year was registered or deemed to be registered in terms of the Long -term Insurance Act, and who as at 1 April of the levy year also is still registered or deemed to be registered in terms of the Long-term Insurance Act, must pay the full special SAM levies referred to in subparagraph (1) in accordance with subparagraph (3); |
| (b) | who was registered or deemed to be registered in terms of the Long-term Insurance Act after 1 April but not later than 1 October of the previous levy year, and who as at 1 April of the levy year— |
| (i) | is still registered or deemed to be registered in terms of the Long-term Insurance Act; or |
| (ii) | has been converted to a licence in accordance with item 6(2) of Schedule 3 of the Insurance Act, |
must pay the full applicable levies referred to in subparagraph (1) in accordance with subparagraph (3); or
| (c) | other than a microinsurer and a long-term insurer whose registration was converted to a licence in accordance with item 6(2) of Schedule 3 of the Insurance Act, who was licensed in terms of the Insurance Act on or before 1 October of the previous levy year, and who was as at 1 April of the levy year still licensed in terms of the Insurance Act, must pay the full applicable special SAM levies referred to in subparagraph (1) in accordance with subparagraph (3). |
| (3) | The special SAM levies referred to in subparagraph (2) must be paid in two equal instalments before or on 31 July and 30 November of the levy year. |
