Commonwealth Numbered Acts

FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY (COLLECTION) ACT 2023 (NO. 45, 2023) - SECT 18

             (1)  ASIC may, on behalf of the Commonwealth, waive the payment of the whole or a part of one or more of the following amounts payable by a person, if ASIC is satisfied that there are exceptional circumstances justifying the waiver:

                     (a)  an instalment of levy;

                     (b)  late payment penalty;

                     (c)  shortfall penalty.

             (2)  ASIC may do so on its own initiative or on written application by a person.

             (3)  Applications must be in the approved form.