(1) The amount of levy payable by an employer for each employee for a covered industry is the percentage of the employee's ordinary pay determined by the Governing Board from time to time.
(2) The amount of the levy determined under subsection (1)—
(a) must not exceed 3% of the employee's ordinary pay; and
(b) may vary—
(i) according to the covered industry; and
(ii) within each covered industry, according to different circumstances.
(3) As soon as practicable after determining the levy or any change to the levy for a covered industry under this section, the Authority must notify all registered active employers for the covered industry of the levy or change, in the manner determined by the Authority.
(4) A change to the levy may take effect only for the following or a subsequent quarter after the quarter in which the change is determined.