Financial Institutions Supervisory Levies Collection Amendment Act 2005

No. 14, 2005

An Act to amend the Financial Institutions Supervisory Levies Collection Act 1998, and for related purposes

Contents

1 Short title

2 Commencement

3 Schedule(s)

Schedule 1—Amendment of the Financial Institutions Supervisory Levies Collection Act 1998

Financial Institutions Supervisory Levies Collection Amendment Act 2005

No. 14, 2005

An Act to amend the Financial Institutions Supervisory Levies Collection Act 1998, and for related purposes

[Assented to 22 February 2005]

The Parliament of Australia enacts:

1  Short title

  This Act may be cited as the Financial Institutions Supervisory Levies Collection Amendment Act 2005.

2  Commencement

  This Act commences on the day on which it receives the Royal Assent.

3  Schedule(s)

  Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendment of the Financial Institutions Supervisory Levies Collection Act 1998

1  Section 7 (definition of authorised NOHC)

Repeal the definition, substitute:

authorised NOHC means an authorised NOHC within the meaning of either:

 (a) the Banking Act 1959; or

 (b) the Insurance Act 1973.

Note: NOHC is short for non‑operating holding company.

2  Application

The amendment made by this Schedule applies in relation to levy payable for:

 (a) the financial year commencing on 1 July 2005; and

 (b) each succeeding financial year.

[Minister’s second reading speech made in—

House of Representatives on 9 December 2004

Senate on 9 February 2005]