Commonwealth Numbered Acts

FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY (COLLECTION) ACT 2023 (NO. 45, 2023) - SECT 12

                   The CSLR operator may, by notifiable instrument made:

                     (a)  after the start of the first levy period; and

                     (b)  after recalculating the amounts referred to in paragraphs 11(a) to (c);

determine for the first levy period a revised estimate using those recalculated amounts.

Note:          From this revised estimate:

(a)    any shortfall in levy can only be recovered as annual levy for a later levy period (see paragraph 9(1)(d) and subsection 9(6)), which will require a legislative instrument to be made under subsection 9(1); and

(b)    any surplus in levy will reduce annual levy for a later levy period (see subparagraph 9(1)(b)(iv) and paragraph 9(2)(c)), which will be reflected in a legislative instrument to be made under subsection 9(1).