Minor changes to levy—employers and voluntary members
56A Minor changes to levy—employers and voluntary members
Despite section 51 (2) (Determination of levy—employers) and section 56 (1) (Determination of levy—voluntary members), the governing board may determine the levy payable for a covered industry if—
the board would, under section 51 (3) or section 56 (2), recommend a change to the current levy; and
the change, together with any other changes made to the levy in the 12 months before the change is to take effect, is less than or equal to a variation of 40 basis points.
If the governing board determines the levy—
if the levy is payable by employers—the determination repeals a determination made by the Minister under section 51 (2); and
if the levy is payable by registered voluntary members—the determination repeals a determination made by the Minister under section 56 (1); and
the governing board must tell the Minister, in writing, about the determination.
A determination is a disallowable instrument.
Nothing in this section prevents the governing board from making a recommendation under section 51 (3) or section 56 (2).
This Act’s bill:Explanatory statementSecond reading speech
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