(1) Part 9 of the Principal Act is amended -

(a) by inserting the following after section 124A:

"124B. Certain premiums of life assurance.

(1) In this section -

'assessable amount', in relation to a quarter, means the gross amount received by an insurer by means of premiums in that quarter for policies of insurance referred to in classes I, II, III, IV, V and VI of Annex I to the Directive, to the extent that the risks to which those policies of insurance relate are located in the State (being risks deemed to be located in the State by virtue of section 61);

'Directive' means Directive 2002/83/EC of the European Parliament and of the Council of 5 November 2002 [OJ No. L345, 19 December 2002, p.1.] concerning life assurance;

'due date' means, in respect of the quarter ending on -

(a) 31 March in any year, 30 April in the same year,

(b) 30 June in any year, 31 July in the same year,

(c) 30 September in any year, 31 October in the same year, and

(d) 31 December in any year, 31 January in the following year;

'insurer' means -

(a) a person who is the holder of an assurance licence under the Insurance Act 1936,