Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1235

1235. (1) If at any time the amount of a fidelity fund is insufficient to pay
all amounts that, at that time, are required to be paid under section  1231 ,
the futures organisation concerned may determine that a futures organisation
fidelity fund levy be paid by specified contributing members of the futures
organisation and, where such a determination is made, a futures organisation
fidelity fund levy is payable accordingly by each of the specified
contributing members.

(2) A person or partnership is not required to pay by way of futures
organisation fidelity fund levy under this section more than $5,000 in total
or more than $1,000 in any period of 12 months.

(3) A futures organisation fidelity fund levy is payable to the Secretary to
the Department within the prescribed period and in the prescribed manner.

(4) Where a futures organisation fidelity fund levy payable under subsection
(1) is paid into the Consolidated Revenue Fund, an amount equal to the levy so
paid is payable to the relevant futures organisation out of the Consolidated
Revenue Fund, which is appropriated accordingly.

(5) An amount paid to a futures organisation under subsection (4) shall be
paid by the futures organisation into its fidelity fund.

(6) This section has effect subject to section 1236.