Levies for Account against certificate holders
94 Levies for Account against certificate holders
If at any time moneys standing to the credit of the Account are in the opinion of the chief executive officer not sufficient to satisfy the liabilities of the chief executive officer in relation thereto, the chief executive officer may impose on each holder of a current triennial certificate for payment to the credit of the Account, a levy of such amount as it thinks fit not exceeding the sum of $20 in any one year.
The amount of the levy shall become payable on a date and in a manner to be fixed by the chief executive officer, and notice thereof shall be sent by the chief executive officer to each holder of a current triennial certificate.
A person who fails to comply with any notice sent to him under subsection (2) is guilty of an offence against this Act.
[Section 94 amended: No. 59 of 1995 s. 86; No. 77 of 2006 Sch. 1 cl. 156(2); No. 58 of 2010 s. 156.]
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.