Amount of annual administrative levy—the Act, s 292K
86 Amount of annual administrative levy—the Act, s 292K
For the Act, section 292K, the amount of an annual administrative levy is the amount calculated in accordance with this clause.
The amount of the annual administrative levy for an authorisation is—
1% of the security deposit amount for the authorisation, or
if a single security deposit is required to be provided and maintained for more than one authorisation—the amount calculated in accordance with subclause (3), or
if the amount of the annual administrative levy as calculated under paragraph (a) or (b) is less than $100—$100.
If a single security deposit is required to be provided and maintained for more than one authorisation, the amount of the annual administrative levy is the greater of the following at the relevant time—
1% of the relevant proportion of the security deposit amount,
1% of the minimum deposit for the authorisation.
The security deposit amount is the amount of the security deposit required to be provided and maintained under a security deposit condition that applies to the authorisation at the relevant time.
A security deposit is taken to be required to be provided and maintained under a security deposit condition even if the condition requires the security deposit to be provided at a future date or within a period ending on a future date.
If no security deposit is required to be provided and maintained in relation to an authorisation at the relevant time, and there is a minimum deposit for the authorisation at that time, the security deposit amount is taken to be the minimum deposit.
For an initial annual administrative levy, the decision-maker must give the applicant for the grant of the authorisation written notice of any security deposit condition that will be imposed on the grant of the authorisation.
In this clause—
initial annual administrative levy means an annual administrative levy that must be paid under the Act, 292I(3) before the grant of an authorisation.
minimum deposit has the same meaning as in the Act, Part 12A.
relevant proportion means the proportion of 1 to the number of authorisations for which the security deposit is required to be provided and maintained, not including authorisations that have been cancelled or have otherwise ceased to have effect before the relevant time.
relevant time means—
for an initial annual administrative levy—on the grant of the authorisation, and
for a subsequent annual administrative levy—the grant anniversary date that begins that year of the authorisation.
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