The Act of 1964 is hereby amended by the substitution of the following section for section 6:

"6.

(1) Subject to the provisions of this section, an insurer (other than an insolvent insurer which is being wound up by the High Court) shall, in any year in respect of which a percentage is determined under subsection (2) of this section, pay to the Minister, and the Minister shall transmit to the Fund, the appropriate contribution.

(2)

(a) In every year in respect of which, in the opinion of the Minister, the state of the Fund is such that financial support should be provided for it, he shall determine the percentage, not exceeding 2 per cent., of the aggregate income of insurers in that year that, in his opinion, should be paid to the Fund.

(b) The contribution (in this section referred to as the appropriate contribution) payable by an insurer under subsection (1) of this section in any year in respect of which a percentage is determined under paragraph (a) of this subsection shall be a sum equal to that percentage of the aggregate income of the insurer in that year, but payment of the contribution shall be made quarterly in accordance with paragraph (c) of this subsection.