Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteThe Commonwealth must pay to the CSLR operator the amount mentioned in subsection (2) for the first levy period for the following purposes: (a) the CSLR operator paying compensation under section 1063 during the first levy period, other than any such compensation relating to pre-CSLR complaints; (b) the CSLR operator paying AFCA ' s unpaid fees for each month ending on or after the accumulation recovery day but before the second levy period, other than any such fees relating to pre-CSLR complaints; (c) the CSLR operator establishing approximately one third of the capital reserve (within the meaning of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 ); (d) the CSLR operator paying the CSLR operator ' s administrative costs for the first levy period.
1069N(2)
For the purposes of subsection (1) , the amount is equal to the sum of each estimate determined under subsection 1069M(1) for the first levy period and a sub-sector.
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