Every Insurance Company that insures from Fire any Property in the Metropolis shall pay annually to the Metropolitan Board of Works, by way of Contribution toward the Expenses of carrying this Act into effect, a Sum after the Bate of Thirty-five Pounds in the One million Pounds on the gross Amounts insured by it, except by way of Reassurance, in respect of Property in the Metropolis for a Year, and at a like Rate for any fractional Part of a Million, and for any fractional Part of a Year as well as for any Number of Years for which the Insurance may be made, renewed, or continued.
The said Payments by Insurance Companies shall be made quarterly in advance, on the First of January, First of April, First of July, and First of October in every Year ; the First of such Payments to be made on the First of January One thousand eight hundred and sixty-six, and such First Payment and the other Payments for the Year One thousand eight hundred and sixty-six to be based upon the Amounts insured by the several Companies in respect of Property in the Metropolis in the Year ending the Twenty-fourth of December One thousand eight hundred and sixty-four: Provided that any Insurance Company which at the Time of the passing of this Act contributes to the Expenses of the said Fire Engine Establishment may, in respect of all Payments to be made by it in the Years One thousand eight hundred and sixty-six and One thousand eight hundred and sixty-seven, but not afterwards, contribute after the yearly Rate of Thirty-five Pounds in One million Pounds of the Business in respect of which it contributes to the said Fire Engine Establishment for the present Year, according to a Return which has been furnished the Chairman of the said Metropolitan Board, instead of in the Manner in this Act provided.