Treasury Laws Amendment (Financial Services Compensation Scheme of Last Resort) Act 2023 (46 of 2023)

Schedule 1   Financial services compensation scheme of last resort

Part 1   Main amendments

Corporations Act 2001

1   Section 9

Insert:

accumulation recovery day means 8 September 2022.

AFCA's accumulated unpaid fees has the meaning given by subsection 1058B(4).

AFCA's unpaid fees , for a month, has the meaning given by subsection 1058B(2).

capital reserve establishment contribution has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023.

CSLR operator (short for financial services compensation scheme of last resort operator) means the person for whom an authorisation under section 1060 is in force.

CSLR staff member means:

(a) a director, officer or employee of the CSLR operator; or

(b) a person engaged as a consultant to, or to perform services for, the CSLR operator for the purposes of the financial services compensation scheme of last resort.

financial services compensation scheme of last resort means the financial services compensation scheme of last resort established under Part 7.10B.

financial services compensation scheme of last resort operator : see CSLR operator .

first levy period has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Act 2023.

levy period has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Act 2023.

pre-CSLR complaint has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023.

relevant AFCA determination has the meaning given by section 1065.

revised claims, fees and costs estimate has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Act 2023.

sub-sector has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Act 2023.

sub-sector levy cap has the same meaning as in the Financial Services Compensation Scheme of Last Resort Levy Act 2023.