At a session held on January 3, 2006, the Financial Supervision Commission adopted the following Resolution:
The FSC determined the installments’ amount deposited with the Guarantee Fund under Art. 287, Para. 2, Item 1 of the Insurance Code, as well as the time frame for their effecting:
1. The FSC fixed the amount of the installment for insurers offering the compulsory Third Party Liability Insurance of the Motorists in the Republic of Bulgaria under Art. 249, Item 1 of the Insurance Code at BGN 2.30 for each separate motor vehicle for the liability in connection with which a compulsory insurance has been concluded.
2. The FSC fixed the amount of the installment for insurers offering the compulsory Accident Insurance of the Passengers in the Republic of Bulgaria under Art. 249, Item 2 of the Insurance Code at BGN 0.20 for each seat without the seat of the driver for which a compulsory insurance has been concluded.
3. 3. The Commission specified the following timeframes for depositing the installments into an account with the Guarantee Fund:
а) by April 30, 2006 - for insurances concluded from January 1, 2006 to March 31, 2006 (inc.)
b) by July 31, 2006 - for insurances concluded from April 1, 2006 to June 30, 2006 (inc.)
c) by 31.10.2006 - for insurances concluded from July 1, 2006 to September 30, 2006 (inc.)
d) by 31.01.2007 - for insurances concluded from October 1, 2006 to December 31, 2006 (inc.)
4. Insurers shall deposit the total amount of the installment under Item 1 or Item 2 within the timeframes set under Item 3, notwithstanding any deferred payment of the premium, where such is provided for as per the insurance contract.
The FSC’s Resolution shall be published in the State Gazette.