Superannuation Industry (Supervision) Act 1993

Div 3 heading substituted by No 154 of 2007, s 3 and Sch 2 item 19, effective 24 September 2007. The heading formerly read:

How financial assistance is to be paid

S 237 repealed by No 154 of 2007, s 3 and Sch 2 item 20, effective 24 September 2007. For application provision, see note under s 229(1) . S 237 formerly read:

SECTION 237 SEPARATE NOTIONAL ACCOUNTS TO BE KEPT WITHIN THE ACCOUNT  
237(1)
A separate notional account is to be kept within the Account in respect of each levy.

237(2)
If:

(a) the total of the amounts credited to the Account from amounts paid by funds in respect of a levy that was imposed because of one or more determinations made by the Minister to grant financial assistance;

exceeds:

(b) the total amount of that financial assistance;

then the excess is to be debited from the Account and applied in such manner as the Minister determines.

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History

S 237(2) amended by No 52 of 2003, s 3 and Sch 1 items 1 to 3, by substituting " one or more determinations " for " a determination " , omitting " to a fund " after " to grant financial assistance " and substituting " the total amount " for " the amount " , effective 26 June 2003.

S 237 substituted by No 8 of 2005, s 3 and Sch 1 item 423, effective 22 February 2005. For savings provisions see note under s 234 . S 237 formerly read:

S 237 amended by No 152 of 1997, s 3 and Sch 2 item 1245, by substituting " Reserve " for " Account " (wherever occurring), effective 1 January 1998.