SUPERANNUATION (FINANCIAL ASSISTANCE FUNDING) LEVY ACT 1993

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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]  
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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.

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

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6(2)  [Identification]  

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

6(3)  [Maximum and minimum amount]  
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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.

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