Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 940

940. (1) Where the amount in the Fund is less than the minimum amount, SEGC
may, whether or not it also makes a determination under subsection 938 (2),
determine in writing that a levy is payable:

   (a)  unless paragraph (b) applies-by the Exchange; or

   (b)  if there are 2 or more participating exchanges that are securities
        exchanges-by one, or by each of 2 or more, of those participating
        exchanges.

(2) A levy payable by a participating exchange shall be paid to the Secretary
to the Department on behalf of the Commonwealth within the period, and in the
manner, determined in writing by SEGC for the purposes of the levy.

(3) Where a levy is payable under this section, SEGC shall give to each
participating exchange a notice setting out the amount of the levy payable by
that exchange.

(4) For the purpose of paying the whole or a part of a levy under this
section, a participating exchange may borrow money on such terms as the board
of the participating exchange thinks fit.

(5) Where an amount of levy under this section is paid into the Consolidated
Revenue Fund, or an amount of levy under section 941 that is paid into the
Consolidated Revenue Fund is applied under paragraph 941 (4) (a) in or towards
payment of levy under this section, an amount equal to the amount so paid or
applied is payable to SEGC out of the Consolidated Revenue Fund, which is
appropriated accordingly.

(6) An amount paid to SEGC under subsection (5) shall be paid into the Fund.

(7) This section has effect subject to section 942.