Definitions
5 Definitions
In this Act, unless the contrary intention appears:
ADI has the same meaning as in the Banking Act 1959.
ADI is short for authorised deposit‑taking institution.
indexation factor means the indexation factor calculated under section 8.
index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.
levy imposition day, in relation to an ADI for a financial year, means:
if the ADI is an ADI on 1 July of the financial year—that day; or
in any other case—the day, during the financial year, on which the ADI becomes an ADI.
statutory upper limit means:
for the financial year commencing on 1 July 2020—$10,000,000; or
for a later financial year—the amount calculated by multiplying the statutory upper limit for the previous financial year by the indexation factor for the later financial year.
This Act’s bill:Second reading speech
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