THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW

THE CORPORATIONS LAW   82 

The Corporations Law is as follows:...

CHAPTER 7 - SECURITIES

PART 7.9 - FIDELITY FUNDS

SECTION 904   LEVY IN ADDITION TO ANNUAL CONTRIBUTIONS  

904(1)  [Circumstances in which levy may be imposed]  

If at any time the amount of a fidelity fund is insufficient to pay all amounts that, at that time, are required to be paid under section 898, the securities exchange may determine that a levy of a specified amount must be paid by each member of the exchange who is liable to make annual payments of the contribution referred to in subsection 902(2).

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History

S 904(1) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

904(2)  [Payment of levy]  

The amount of the levy must be paid within the time and in the manner specified by the securities exchange either generally or in relation to a particular case.

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History

S 904(2) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

904(3)  [Cap on levy]  

A person is not required to pay by way of levy under this section more than $5,000 in total or more than $1,000 in any period of 12 months.

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History

S 904(3) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

904(4)  [Payment into fidelity fund]  

An amount of levy paid under this section must be paid into the securities exchange's fidelity fund.

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History

S 904(4) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

904(5)  [Section 919]  

This section has effect subject to section 919.

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History

S 904(5) substituted by No 110 of 1990, Sch 1 (effective 18 December 1990).

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