Commonwealth Numbered Regulations

FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY REGULATIONS 2023 (F2023L00989)

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Name  
   2.      Commencement  
   3.      Authority  
   4.      Definitions  
   5.      Rules about amounts  

   PART 2--MATTERS RELATING TO IMPOSITION OF LEVY

   6.      Sub-sectors subject to annual levy  
   7.      General conditions for imposition of annual levy  
   8.      General conditions for imposition of special levy  

   PART 3--AMOUNT OF LEVY PAYABLE

           Division 1--Amount of annual levy for members of a sub-sector

   9.      Amount of annual levy  
   10.     Levy component for persons who are deregistered or who cease to be a member of a sub-sector  
   11.     Graduated levy component  
   12.     Entity metric  

           Division 2--Amount of further levy across members of the sub-sector

   13.     Amount of further levy--total levy does not exceed the sub-sector levy cap  
   14.     Amount of special levy--total levy exceeds the sub-sector levy cap  

           Division 3--Amount of special levy across several sub-sectors

   15.     Amount of special levy--total levy exceeds the sub-sector levy cap  
   16.     Amount of special levy--basic levy component applies to the leviable sub-sector  
   17.     Amount of special levy--basic levy component does not apply to the leviable sub-sector  

           Division 4--Amount of levy for unpaid claims, and AFCA's unpaid fees, for complaints given to AFCA before the accumulation recovery day

   18.     Amount of levy