Commonwealth Numbered Acts Commonwealth Numbered ActsLevy is imposed on a person for the second levy period or a later levy period if:
(a) a revised claims, fees and costs estimate comes into force for the levy period and a sub-sector; and
(b) as a result of that estimate, a determination comes into force under section 1069H of the Corporations Act 2001 that, under subsection 1069H(5) of that Act, specifies that levy needs to be imposed by this section:
(i) for the levy period; and
(ii) across all members of one or more specified sub-sectors (which need not include the sub-sector to which that estimate relates); and
(c) at any time during the levy period or the previous levy period, the person is a member of one of the sub-sectors specified in that determination; and
(d) the general conditions (if any) prescribed by the regulations for the purposes of this paragraph are met for the person and the levy period.
Note 1: Such a determination will only come into force if the Minister decides that special levy needs to be imposed across one or more other sub-sectors to deal with a revised claims, fees and costs estimate for a particular sub-sector that causes the sub-sector levy cap for that sub-sector to be exceeded.
Note 2: Such a determination could be made instead of a determination that, under subsection 1069H(4) of the Corporations Act 2001 , specifies that special levy needs only to be imposed by subsection 8(3) of this Act for the levy period and the sub-sector to which the revised claims, fees and costs estimate relates.
Note 3: Special levy can be imposed under this section more than once for the levy period and the sub-sector if more than one of these estimates, and determinations, come into force for the levy period.