Commonwealth Numbered Acts Commonwealth Numbered ActsIn this Act:
"accumulation recovery day " has the same meaning as in the Corporations Act 2001 .
"AFCA " (short for the Australian Financial Complaints Authority) has the same meaning as in Chapter 7 of the Corporations Act 2001 .
"AFCA's accumulated unpaid fees " has the same meaning as in the Corporations Act 2001 .
AFCA scheme has the same meaning as in Chapter 7 of the Corporations Act 2001 .
"AFCA's unpaid fees " has the same meaning as in the Corporations Act 2001 .
"amount " includes a nil amount.
"approved form " has the meaning given by section 30.
"ASIC " means the Australian Securities and Investments Commission.
"capital reserve " means an amount equal to $5 million to be applied by the CSLR operator for the purposes mentioned in paragraphs 1069Q(1)(a) to (e) of the Corporations Act 2001 .
"capital reserve establishment contribution " means an amount equal to approximately one third of the capital reserve.
"claims, fees and costs estimate " means an estimate determined under section 9 or 10.
"CSLR operator " has the same meaning as in the Corporations Act 2001 .
first levy period has the same meaning as in the Levy Act.
"late payment penalty " means penalty payable under section 14.
"levy " means levy imposed by the Levy Act.
"Levy Act " means the Financial Services Compensation Scheme of Last Resort Levy Act 2023 .
"levy month " means one of the 12 months of the calendar year.
"levy period " has the same meaning as in the Levy Act.
"offence against this Act " includes an offence against Chapter 7 of the Criminal Code that relates to this Act.
"person " has a meaning affected by sections 26, 27, 28 and 29.
"pre-CSLR complaint " means a complaint that:
(a) is for AFCA to finalise (including by making a determination); and
(b) is given to AFCA before the accumulation recovery day; and
(c) is a complaint of a kind covered by paragraph 1065(1)(a) of the Corporations Act 2001 .
Note: AFCA will have finalised many of these complaints before this Act commences.
"qualifying period " has the same meaning as in the Levy Act.
"relevant AFCA determination " has the same meaning as in the Corporations Act 2001 .
"shortfall penalty " means penalty payable under section 16.
"sub-sector " has the same meaning as in the Levy Act.