unless the person has paid to the securities exchange, as agent for the Commonwealth, the levy known as securities exchange (application for membership) fidelity fund contribution.

Note: For the imposition and amount of the levy, see the Corporations (Securities Exchanges Levies) Act 2001 .

(2) A person who is a member of a securities exchange must, on or before 31 March in each year, pay to the securities exchange, as agent for the Commonwealth, the levy known as futures organisation (annual membership) fidelity fund contribution.

Note: For the imposition and amount of the levy, see the Corporations (Securities Exchanges Levies) Act 2001 .

(3) Whenever an amount of levy (the levy amount ) is paid under this section, or under subsection 8(3) of the Corporations (Securities Exchanges Levies) Act 2001 , to a securities exchange as agent for the Commonwealth:

(a)

the securities exchange must pay an amount equal to the levy amount to the Commonwealth; and

(b)

the Consolidated Revenue Fund is appropriated by that amount for the purpose of payment to the securities exchange; and

(c)

the Commonwealth must pay the amount so appropriated to the securities exchange; and

(d)

the securities exchange must pay the amount it receives under paragraph (c) into its fidelity fund.

(4) A payment of an amount to a securities exchange as required by paragraph (3)(c) in respect of a particular levy amount is subject to a condition that, if the Commonwealth becomes liable to refund the whole or a part of the levy amount, the securities exchange must pay to the Commonwealth an amount equal to the amount that the Commonwealth is liable to refund. The securities exchange may pay, out of its fidelity fund, any amount so required to be paid to the Commonwealth. (5) The Financial Management and Accountability Act 1997 does not apply in relation to the payment of an amount of levy under this section to a securities exchange as agent for the Commonwealth. However, the operation of that Act in relation to the following payments is not affected.

(a)

the payment of an amount to the Commonwealth as required by paragraph (3)(a); or

(b)

the payment of an amount by the Commonwealth as required by paragraph (3)(c).