Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Act 2023 (46 of 2023)

Schedule 1   Financial services compensation scheme of last resort

Part 2   Other amendments

Corporations Act 2001

6   After subsection 601AB(1B)

Insert:

(1C) ASIC may also decide to deregister a company if the company is liable to pay an instalment of levy (within the meaning of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023) and the company has not paid in full at least 12 months after the due date for payment:

(a) the amount of the instalment of levy; and

(b) the amount of any late payment penalty payable in relation to the instalment of levy; and

(c) the amount of any shortfall penalty payable in relation to the instalment of levy.