New South Wales Consolidated Acts

PROPERTY AND STOCK AGENTS ACT 2002 - SECT 169

169 Levies

(1) If the Secretary is at any time of the opinion that the Compensation Fund is likely to be insufficient to meet the liabilities to which it is subject, the Secretary may, with the approval of the Minister, impose a levy on each licensee.

(2) A levy is payable to the Secretary at the time, and in the manner, fixed by the Secretary.

(3) The Secretary may, in any special case, allow time for the payment of the whole or part of any levy.

(4) If, after being given the notice prescribed by the regulations, a licensee fails to pay a levy in accordance with this section, the Secretary may suspend the licence held by the licensee while the failure continues.