Section 92 of the Finance Act, 1982, is hereby amended -
(a) in subsection (1) in the definition of "insurer" by the substitution of "European Communities (Non-Life Insurance) Framework Regulations, 1994 (S.I. No. 359 of 1994)" for "European Communities (Non-Life Insurance) Regulations, 1976 (S.I. No. 115 of 1976)", and
(b) in subsection (6) by the substitution of "the insurer shall be liable to pay, by way of penalty and in addition to the duty" for "the insurer shall be liable to pay, in addition to the duty".