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Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023
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Administered by
Department of the Treasury
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C2023C00419 (C01)
20 October 2023
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Part 1—Preliminary
1 Short title
2 Commencement
3 Simplified outline of this Act
4 Act binds the Crown
5 External Territories
6 Extraterritorial application
7 Definitions
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Part 2—Pre imposition information and estimates of claims and costs
8 Information required from levy payers before a levy period
9 Initial estimate of claims, fees and costs for a levy period
10 Revised estimate of claims, fees and costs for a levy period
11 Initial estimate of unpaid claims, and AFCA’s unpaid fees, for complaints given to AFCA before the accumulation recovery day
12 Revised estimate of unpaid claims, and AFCA’s unpaid fees, for complaints given to AFCA before the accumulation recovery day
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Part 3—Payment of levy, late payment penalty and shortfall penalty
13 When levy due for payment
14 Late payment penalty
15 Default notice
16 Shortfall penalty
17 Payment of levy, late payment penalty and shortfall penalty
18 Waiver of levy, late payment penalty and shortfall penalty
19 Recovery of levy, late payment penalty and shortfall penalty
20 Substantiation notices
21 Compliance with substantiation notice
22 Failure to comply with substantiation notice
23 Exempting laws ineffective
24 Internal review of certain decisions
25 Administrative Appeals Tribunal review of certain decisions
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Part 4—Other matters
26 Treatment of partnerships
27 Treatment of unincorporated associations
28 Treatment of RSE licensees
29 Treatment of multiple trustees
30 Approved forms
31 Regulations
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history