SUPERANNUATION (FINANCIAL ASSISTANCE FUNDING) LEVY ACT 1993

SECTION 6   REGULATIONS MAY IMPOSE LEVIES  

6(1)  [Imposition of levy]  

If the Minister makes a determination under Part 23 of the Superannuation Industry (Supervision) Act 1993 to grant financial assistance to a fund, the regulations may impose a levy or levies on each fund other than:

(a)  the first-mentioned fund; or

(b)  another fund in respect of which such a determination was made in the same financial year.

6(1A)  [Levy in respect of more than one determination]  

If the Minister makes more than one determination in a financial year under Part 23 of the Superannuation Industry (Supervision) Act 1993 to grant financial assistance, the regulations may impose a levy on each fund that is not a fund in respect of which a determination was made in the same financial year.

6(1B)  [Regulations for levy in respect of more than one determination]  

Regulations made for the purposes of subsection (1A) imposing a levy in respect of more than one determination must specify all the funds in respect of which determinations are made and the proportion of the levy that each fund represents.

6(2)  [Identification]  

Each levy must be identified in the regulations by a unique number.

6(3)  [Maximum and minimum amount]  

Regulations imposing a levy in respect of one or more determinations may specify that either or both of the following are payable:

(a)  a maximum amount of levy;

(b)  a minimum amount of levy.