Amount of annual levy
12 Amount of annual levy
The amount of levy imposed by subsection 8(1) on a person for a levy period and a sub‑sector is the amount worked out in accordance with a method prescribed by the regulations for the purposes of this subsection.
Objectives for working out amounts of annual levy
The objectives are that the total amount of levy imposed by subsection 8(1) across all members of a sub‑sector for a levy period:
does not exceed the initial claims, fees and costs estimate for the levy period and the sub‑sector; and
does not cause the sub‑sector levy cap for the levy period and the sub‑sector to be exceeded; and
does not cause the scheme levy cap to be exceeded.
Regulations
Before the Governor‑General makes regulations for the purposes of subsection (1), the Minister must be satisfied that the regulations are consistent with the objectives stated in subsection (2).
Without limiting subsection (1), the method prescribed by the regulations for a levy period and a sub‑sector may have regard to:
the initial claims, fees and costs estimate for the levy period and the sub‑sector; and
one or more determinations by ASIC under regulations made for the purposes of section 9 of the ASIC Supervisory Cost Recovery Levy Act 2017.
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.