(1) Section 470B of the Principal Act is amended in subsection (4) -

(a) in subparagraph (i) by substituting "1 January 2013" for "1 January 2012",

(b) in clause (II) by inserting "but before 1 January 2011" after "2010",

(c) in clause (III) by inserting "but before 1 January 2012" after "2011",

(d) in clause (III) by substituting "such total annual premium," for "such total annual premium, and",

(e) by inserting the following after clause (III):

"(IIIa) as respects a relevant contract renewed or entered into on or after 1 January 2012, the amount specified in column (5) of the Table to this subsection corresponding to the class of insured person mentioned in column (1) of that Table or, where the payment made to the authorised insurer is a monthly or other instalment towards the payment of the total annual premium due under the relevant contract, an amount equal to the amount so specified divided by the total number of instalments to be made to pay such total annual premium, and",

and