Commissioner may negate entity’s MBL benefits
117-25 Commissioner may negate entity’s MBL benefits
For the purpose of negating an *MBL benefit the entity mentioned in paragraph 117‑10(1)(a) gets or got from the *scheme, the Commissioner may:
make a determination stating the amount that is (and has been at all times) the entity’s liability for levy under the Major Bank Levy Act 2017, for a specified *quarter that has ended; or
make a determination stating the amount that is (and has been at all times) a particular amount mentioned in paragraph 5(2)(a) or (b) of that Act, for a specified quarter that has ended.
A determination under this section is not a legislative instrument.
The Commissioner may take such action as the Commissioner considers necessary to give effect to the determination.
This Act’s bill:Second reading speech
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