Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1235

(1)

If at any time the amount of a fidelity fund is insufficient to pay all amounts that, at that time, are required to be paid under section 1231, the futures organisation may determine that a levy of a specified amount must be paid by specified contributing members of the organisation.

(2)

The amount of the levy must be paid within the time, and in the manner, specified by the futures organisation either generally or in relation to a particular case.

(3)

A person or partnership need not pay by way of levy under this section more than $5,000 in total or more than $1,000 in any period of 12 months.

(4)

An amount of levy paid under this section must be paid into the futures organisation's fidelity fund.

(5)

This section has effect subject to section 1236.