Superannuation (Financial Assistance Funding) Levy Amendment Act 2003 (51 of 2003)

Schedule 1   Amendment of the Superannuation (Financial Assistance Funding) Levy Act 1993

1   After subsection 6(1)

Insert:

(1A) 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.

(1B) 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.