Private Health Insurance (Prudential Supervision) (Consequential Amendments and Transitional Provisions) Act 2015 (87 of 2015)

Schedule 1   Consequential amendments

Part 1   Amendments

Division 1   Main amendments

Financial Institutions Supervisory Levies Collection Act 1998

16   At the end of section 10

Add:

(3) The applicable rate , in relation to an amount of unpaid levy, is:

(a) 20% (unless the levy was imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015); or

(b) if the levy was imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015:

(i) 15% (unless subparagraph (ii) applies); or

(ii) if, under a legislative instrument made by the Minister for the purposes of this subparagraph, a specified rate of less than 15% applies in relation to the unpaid levy - that specified rate.