{"id":"C2004A00313","name":"Financial Institutions Supervisory Levies Collection Act 1998","slug":"financial-institutions-supervisory-levies-collection-act-1998","collection":"act","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":"53 of 1998","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":5940,"registerId":"commonwealth-C2004A00313-current","compilationNumber":null,"startDate":"2026-03-30","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Part 1","sectionType":"part","heading":"Preliminary","content":"Part 1—Preliminary","sortOrder":0},{"sectionNumber":"1","sectionType":"section","heading":"Short title","content":"1  Short title\n\n  This Act may be cited as the Financial Institutions Supervisory Levies Collection Act 1998.","sortOrder":1},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"2  Commencement\n\n  This Act commences on the commencement of the Australian Prudential Regulation Authority Act 1998.","sortOrder":2},{"sectionNumber":"3","sectionType":"section","heading":"Act binds the Crown","content":"3  Act binds the Crown\n\n  This Act binds the Crown in each of its capacities.","sortOrder":3},{"sectionNumber":"4","sectionType":"section","heading":"External Territories","content":"4  External Territories\n\n  This Act extends to each external Territory.","sortOrder":4},{"sectionNumber":"5","sectionType":"section","heading":"Application of Act to Lloyd’s","content":"5  Application of Act to Lloyd’s\n\n (1) This Act applies to Lloyd’s (within the meaning of section 3 of the Insurance Act 1973), at all times after the commencement of this Act, as if Lloyd’s were a body corporate authorised under that Act to carry on insurance business.\n\n (2) Nothing in this Act makes any Lloyd’s underwriter liable to pay levy under this Act.","sortOrder":5},{"sectionNumber":"6","sectionType":"section","heading":"Definitions","content":"6  Definitions\n\n  In this Act, unless the contrary intention appears:\n\nAPRA means the Australian Prudential Regulation Authority.\n\nprivate health insurer has the same meaning as in the Private Health Insurance (Prudential Supervision) Act 2015.","sortOrder":6},{"sectionNumber":"Part 2","sectionType":"part","heading":"Supervisory levies","content":"Part 2—Supervisory levies","sortOrder":7},{"sectionNumber":"7","sectionType":"section","heading":"Definitions","content":"7  Definitions\n\n  In this Part, unless the contrary intention appears:\n\nADI has the same meaning as in the Banking Act 1959.\n\nNote: ADI is short for authorised deposit‑taking institution.\n\nauthorised NOHC means:\n\n (a) an authorised NOHC within the meaning of either:\n\n (i) the Banking Act 1959; or\n\n (ii) the Insurance Act 1973; or\n\n (b) a registered NOHC within the meaning of the Life Insurance Act 1995.\n\nNote: NOHC is short for non‑operating holding company.\n\nbusiness day means a day that is not a Saturday, a Sunday, a public holiday or a bank holiday in the place concerned.\n\ngeneral insurance company means a body corporate that is authorised under the Insurance Act 1973 to carry on insurance business within the meaning of that Act.\n\nlate payment penalty means penalty payable under section 10.\n\nleviable body means any of the following types of bodies:\n\n (a) an ADI;\n\n (b) an authorised NOHC;\n\n (c) a life insurance company;\n\n (d) a general insurance company;\n\n (da) a private health insurer;\n\n (e) an RSA provider;\n\n (f) a superannuation entity.\n\nlevy means:\n\n (a) in respect of a leviable body that is an ADI—levy imposed by the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998; or\n\n (b) in respect of a leviable body that is an authorised NOHC—levy imposed by the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998; or\n\n (c) in respect of a leviable body that is a life insurance company—levy imposed by the Life Insurance Supervisory Levy Imposition Act 1998; or\n\n (d) in respect of a leviable body that is a general insurance company—levy imposed by the General Insurance Supervisory Levy Imposition Act 1998; or\n\n (da) in respect of a leviable body that is a private health insurer—levy imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015; or\n\n (e) in respect of a leviable body that is an RSA provider—levy imposed by the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998; or\n\n (f) in respect of a leviable body that is a superannuation entity—levy imposed by the Superannuation Supervisory Levy Imposition Act 1998.\n\nlevy imposition day, in relation to the imposition of a levy in respect of a leviable body of a particular type for a financial year, means:\n\n (a) if the leviable body is that type of leviable body on 1 July of the financial year—that day; or\n\n (b) if the leviable body becomes that type of leviable body on a day during the financial year that is after 1 July of the financial year—the day, during the financial year, on which the leviable body becomes that type of leviable body.\n\nlevy paying entity means:\n\n (a) a leviable body, other than a superannuation entity; or\n\n (b) the trustee of a superannuation entity.\n\nlife insurance company means a company that is registered under section 21 of the Life Insurance Act 1995.\n\nRSA provider has the same meaning as in the Retirement Savings Accounts Act 1997.\n\nsuperannuation entity means an entity that:\n\n (a) is a superannuation entity within the meaning of the Superannuation Industry (Supervision) Act 1993; and\n\n (b) is not a self managed superannuation fund within the meaning of that Act.\n\ntrustee, in relation to a superannuation entity, means the person who is the trustee of the entity for the purposes of the Superannuation Industry (Supervision) Act 1993.","sortOrder":8},{"sectionNumber":"8","sectionType":"section","heading":"Liability to levy","content":"8  Liability to levy\n\nADIs\n\n (1) A body corporate that is an ADI at any time during a financial year that ends after the commencement of the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 is liable to pay a levy in respect of that financial year.\n\nAuthorised NOHCs\n\n (2) A body corporate that is an authorised NOHC at any time during a financial year that ends on or after the commencement of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998 is liable to pay a levy in respect of that financial year.\n\nGeneral insurance bodies corporate\n\n (3) A body corporate that is a general insurance company at any time during a financial year that ends after the commencement of the General Insurance Supervisory Levy Imposition Act 1998 is liable to pay a levy in respect of that financial year.\n\nLife Insurance companies\n\n (4) A body corporate that is a life insurance company at any time during a financial year that ends after the commencement of the Life Insurance Supervisory Levy Imposition Act 1998 is liable to pay a levy imposed in respect of that financial year.\n\nPrivate health insurers: 2015‑16 financial year\n\n (4A) A body corporate that is a private health insurer on the liability day in a quarter in the financial year starting on 1 July 2015 is liable to pay a levy in respect of that quarter. However, this subsection does not apply to a quarter if the liability day for the quarter is before the commencement of this subsection.\n\n (4B) In subsection (4A):\n\nliability day in a quarter means the 28th day of the second month of the quarter.\n\nquarter means a period of 3 months starting on 1 July, 1 October, 1 January or 1 April.\n\nPrivate health insurers: 2016‑17 financial year and later financial years\n\n (4C) A body corporate that is a private health insurer at any time during the financial year starting on 1 July 2016 or a later financial year is liable to pay a levy in respect of that financial year.\n\nRSA providers\n\n (5) A body corporate that is an RSA provider at any time during a financial year that ends after the commencement of the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998 is liable to pay a levy imposed in respect of that financial year.\n\nSuperannuation entities\n\n (6) A trustee of a superannuation entity that is a superannuation entity at any time during a financial year that ends after the commencement of the Superannuation Supervisory Levy Imposition Act 1998 is liable to pay a levy in respect of that financial year.","sortOrder":9},{"sectionNumber":"9","sectionType":"section","heading":"When levy due for payment","content":"9  When levy due for payment\n\n (1) Levy payable by a leviable body for a financial year (other than levy payable under subsection 8(4A) or (6)) is due and payable on:\n\n (a) if the levy imposition day relating to the levy payable by the leviable body is 1 July of the financial year—a business day that is:\n\n (i) specified in a notice given to the leviable body by APRA in relation to the financial year; and\n\n (ii) is not earlier than 28 days after the day on which the notice is given; or\n\n (b) if the levy imposition day relating to the levy payable by the leviable body is a day of that financial year after 1 July—by:\n\n (i) the day that is 6 weeks after the day on which the leviable body becomes that type of leviable body; or\n\n (ii) if the day applicable under subparagraph (i) is not a business day, the first business day following that day.\n\n (2) Levy payable under subsection 8(6) for a financial year by a trustee of a superannuation entity is due and payable:\n\n (a) if the entity is a superannuation entity on 1 July of the financial year and became a superannuation entity before that day—on a business day that:\n\n (i) is specified in a notice given by APRA to the trustee on or after the day on which an annual return that is a reporting document under section 13 of the Financial Sector (Collection of Data) Act 2001 and that relates to the previous financial year was received by APRA; and\n\n (ii) is not earlier than 6 weeks after the day on which the notice is given; or\n\n (b) if the entity becomes a superannuation entity on or after 1 July of the financial year—on a business day that:\n\n (i) is specified in a notice given by APRA to the trustee; and\n\n (ii) is not earlier than 6 weeks after the day on which the notice is given.\n\n (3) Levy payable by a private health insurer for a quarter under subsection 8(4A) is payable on the 14th day after the liability day for the quarter.\n\nNote: For the meaning of quarter and liability day, see subsection 8(4B).","sortOrder":10},{"sectionNumber":"10","sectionType":"section","heading":"Late payment penalty","content":"10  Late payment penalty\n\n (1) If any levy payable by a levy paying entity:\n\n (a) is not paid on or before the day on which it is due and payable (the due day for payment); and\n\n (b) remains unpaid after the penalty calculation day;\n\nthe levy paying entity is liable to pay, by way of penalty, an amount worked out at the applicable rate per year on the amount unpaid, computed from the end of the due day for payment to the end of the penalty calculation day.\n\n (2) The penalty calculation day is:\n\n (a) if the levy is paid on or after the first day of a month and before the sixth day of that month—the 20th day of the immediately preceding month; or\n\n (b) if the levy is paid on or after the sixth day of a month and before the 20th day of that month—the sixth day of that month; or\n\n (c) if the levy is paid on or after the 20th day of a month and on or before the last day of that month—the 20th day of that month.\n\n (3) The applicable rate, in relation to an amount of unpaid levy, is:\n\n (a) 20% (unless the levy was imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015); or\n\n (b) if the levy was imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015:\n\n (i) 15% (unless subparagraph (ii) applies); or\n\n (ii) if, under a legislative instrument made by the Minister for the purposes of this subparagraph, a specified rate of less than 15% applies in relation to the unpaid levy—that specified rate.","sortOrder":11},{"sectionNumber":"11","sectionType":"section","heading":"Payment of levy and late payment penalty","content":"11  Payment of levy and late payment penalty\n\n  Levy and late payment penalty are payable to APRA on behalf of the Commonwealth.\n\nNote: Levy and late payment penalty may be payable to the Commissioner of Taxation because of section 252G of the Superannuation Industry (Supervision) Act 1993.","sortOrder":12},{"sectionNumber":"12","sectionType":"section","heading":"Waiver of levy and late payment penalty","content":"12  Waiver of levy and late payment penalty\n\n  APRA, on behalf of the Commonwealth, may, if APRA considers it is appropriate to do so, waive the payment of the whole or a part of an amount of levy or late payment penalty that is payable by a levy paying entity.\n\nNote: For example, if levy is payable by a body corporate which has ceased to be authorised under the Insurance Act 1973 to carry on an insurance business and has ceased to be a life company, APRA may waive the payment of the levy if APRA considers it appropriate to do so because payment of the levy would prevent payment in full of claims under contracts of insurance made with the body corporate.","sortOrder":13},{"sectionNumber":"13","sectionType":"section","heading":"Recovery of levy and late payment penalty","content":"13  Recovery of levy and late payment penalty\n\n (1) The following amounts may be recovered by the Commonwealth as debts due to the Commonwealth:\n\n (a) levy that is due and payable;\n\n (b) late payment penalty that is due and payable.\n\n (2) APRA is authorised, as agent of the Commonwealth, to bring proceedings in the name of the Commonwealth for the recovery of a debt due to the Commonwealth of a kind mentioned in subsection (1).","sortOrder":14},{"sectionNumber":"14","sectionType":"section","heading":"Exempting laws ineffective","content":"14  Exempting laws ineffective\n\n (1) Nothing in a law passed before the commencement of this section exempts a levy paying entity from liability to pay levy.\n\n (2) If a law (including a provision of a law) passed after the commencement of this section purports to exempt a levy paying entity from:\n\n (a) liability to pay taxes under laws of the Commonwealth; or\n\n (b) liability to pay certain taxes under laws of the Commonwealth that would otherwise include levy;\n\nthe law does not operate to exempt the levy paying entity from liability to pay levy unless the exemption expressly refers to levy under this Act.\n\n (3) This section applies in relation to levy imposed by the Private Health Insurance Supervisory Levy Imposition Act 2015 as if subsections (1) and (2) referred to the time when this subsection commences (rather than to the commencement of this section).","sortOrder":15},{"sectionNumber":"15","sectionType":"section","heading":"Regulations may modify this Part if levy Act commences during a financial year","content":"15  Regulations may modify this Part if levy Act commences during a financial year\n\n  If an Act mentioned in section 8 that imposes levy in respect of a particular type of leviable body commences during a financial year (but not on 1 July of that financial year), this Act has effect in relation to that financial year and that type of leviable body subject to the modifications specified in the regulations.","sortOrder":16},{"sectionNumber":"Part 3","sectionType":"part","heading":"Superannuation (financial assistance funding) levy","content":"Part 3—Superannuation (financial assistance funding) levy","sortOrder":17},{"sectionNumber":"16","sectionType":"section","heading":"Definitions","content":"16  Definitions\n\n  In this Part, unless the contrary intention appears:\n\napproved deposit fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.\n\nfund means a superannuation fund or an approved deposit fund, but does not include a self managed superannuation fund (within the meaning of the Superannuation Industry (Supervision) Act 1993).\n\nlate payment penalty means penalty payable under section 20.\n\nlevy means levy imposed by regulations under the Superannuation (Financial Assistance Funding) Levy Act 1993.\n\nlevy month means one of the 12 months of the calendar year.\n\nsuperannuation fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.\n\ntrustee, in relation to a fund, has the same meaning as in the Superannuation Industry (Supervision) Act 1993.\n\nunpaid levy means the amount of levy unpaid by the trustee of a fund as at the beginning of a levy month.","sortOrder":18},{"sectionNumber":"17","sectionType":"section","heading":"Fund’s accounts to be prima facie evidence of value of its assets","content":"17  Fund’s accounts to be prima facie evidence of value of its assets\n\n (1) This section applies if:\n\n (a) accounts of a fund were prepared for a financial year; and\n\n (b) an amount is shown on those accounts as the value of an asset of the fund as at the end of that financial year.\n\n (2) For the purposes of this Part, the accounts are prima facie evidence of the value of the asset at the end of that financial year.\n\n (3) The Minister may certify that a document is a copy of the accounts.\n\n (4) This section applies to the certified copy as if it were the original.","sortOrder":19},{"sectionNumber":"18","sectionType":"section","heading":"Liability to levy","content":"18  Liability to levy\n\n  The trustee of a fund is liable to pay a levy imposed on the fund.","sortOrder":20},{"sectionNumber":"19","sectionType":"section","heading":"When levy due for payment","content":"19  When levy due for payment\n\n (1) A levy payable by the trustee of a fund is due and payable on such date as is specified in the regulations imposing the levy.\n\n (2) The date to be so specified must not be earlier than the 28th day after the day on which the regulation imposing the levy took effect.","sortOrder":21},{"sectionNumber":"20","sectionType":"section","heading":"Late payment penalty","content":"20  Late payment penalty\n\n (1) If any levy payable by the trustee of a fund remains unpaid as at:\n\n (a) the beginning of the first levy month after the time when it became due for payment; or\n\n (b) the beginning of a later levy month;\n\nthe trustee is liable to pay to the Commonwealth, in respect of that levy month, by way of penalty, the amount worked out using the formula:\n\n![Start formula Unpaid Levy times start fraction 0.2 over 12 end fraction end formula](image.002.png)\n\n (2) Late payment penalty for a levy month is due and payable at the end of the levy month.","sortOrder":22},{"sectionNumber":"21","sectionType":"section","heading":"Payment of levy and late payment penalty","content":"21  Payment of levy and late payment penalty\n\n  Levy and late payment penalty are payable to the Minister.","sortOrder":23},{"sectionNumber":"22","sectionType":"section","heading":"Waiver of late payment penalty","content":"22  Waiver of late payment penalty\n\n  The Minister may waive the whole or a part of an amount of late payment penalty.","sortOrder":24},{"sectionNumber":"23","sectionType":"section","heading":"Recovery of levy and late payment penalty","content":"23  Recovery of levy and late payment penalty\n\n  The following amounts may be recovered by the Commonwealth as debts due to the Commonwealth:\n\n (a) levy that is due and payable;\n\n (b) late payment penalty that is due and payable.","sortOrder":25},{"sectionNumber":"24","sectionType":"section","heading":"Application of levy, late payment penalty and repayments of financial assistance","content":"24  Application of levy, late payment penalty and repayments of financial assistance\n\n  If levy is imposed as a result of a determination by the Minister to make a grant of financial assistance, the following amounts must be paid to the Commonwealth:\n\n (a) amounts of the levy, and late payment penalty in respect of the levy, received by the Minister;\n\n (b) repayments of the financial assistance.","sortOrder":26},{"sectionNumber":"25","sectionType":"section","heading":"Exempting laws ineffective","content":"25  Exempting laws ineffective\n\n (1) Nothing in a law passed before the commencement of this section exempts a trustee of a fund from liability to pay levy.\n\n (2) If a law (including a provision of a law) passed after the commencement of this section purports to exempt a trustee of a fund from:\n\n (a) liability to pay taxes under laws of the Commonwealth; or\n\n (b) liability to pay certain taxes under laws of the Commonwealth that would otherwise include levy;\n\nthe law does not operate to exempt the trustee from liability to pay levy unless the exemption expressly refers to levy under this Act.","sortOrder":27},{"sectionNumber":"26","sectionType":"section","heading":"Delegation","content":"26  Delegation\n\n  The Minister may, by signed writing, delegate to APRA all or any of his or her powers under this Part.","sortOrder":28},{"sectionNumber":"Part 3A","sectionType":"part","heading":"Financial claims scheme levies","content":"Part 3A—Financial claims scheme levies","sortOrder":29},{"sectionNumber":"26A","sectionType":"section","heading":"Definitions","content":"26A  Definitions\n\n  In this Part:\n\nlate payment penalty means penalty payable under section 26D.\n\nlevy means:\n\n (a) levy imposed by regulations under the Financial Claims Scheme (ADIs) Levy Act 2008; or\n\n (b) levy imposed by regulations under the Financial Claims Scheme (General Insurers) Levy Act 2008.\n\nlevy month means one of the 12 months of the calendar year.","sortOrder":30},{"sectionNumber":"26B","sectionType":"section","heading":"Liability to levy","content":"26B  Liability to levy\n\n (1) An ADI is liable to pay a levy imposed on the ADI’s liabilities to its depositors.\n\n (2) A general insurer is liable to pay a levy imposed on the gross premiums received by the general insurer.","sortOrder":31},{"sectionNumber":"26C","sectionType":"section","heading":"When levy due for payment","content":"26C  When levy due for payment\n\n (1) A levy payable by an ADI or a general insurer is due and payable on the date specified in the regulations imposing the levy.\n\n (2) The date specified must not be earlier than the 28th day after the day on which the regulation imposing the levy took effect.\n\n (3) However, APRA may, by written notice given to the ADI or general insurer before, on or after the day on which levy would be due and payable apart from this subsection, specify a later day as the day on which the levy is due and payable. The notice has effect, and is taken always to have had effect, according to its terms.\n\nNote: The notice may affect whether and when the ADI or general insurer is liable to pay late payment penalty.","sortOrder":32},{"sectionNumber":"26D","sectionType":"section","heading":"Late payment penalty","content":"26D  Late payment penalty\n\n (1) If any levy payable by an ADI or general insurer remains unpaid at the start of a levy month after the levy became due for payment, the ADI or general insurer is liable to pay the Commonwealth, for that levy month, a penalty worked out using the formula:\n\n  ![Start formula Amount of the levy remaining unpaid at the start of the levy month times start fraction 0.2 over 12 end fraction end formula](image.003.png)\n\n (2) Late payment penalty for a levy month is due and payable at the end of the levy month.\n\n (3) However, APRA may, by written notice given to the ADI or general insurer before, on or after the day on which late payment penalty would be due and payable apart from this subsection, specify a later day as the day on which the late payment penalty is due and payable. The notice has effect, and is taken always to have had effect, according to its terms.","sortOrder":33},{"sectionNumber":"26E","sectionType":"section","heading":"Payment of levy and late payment penalty","content":"26E  Payment of levy and late payment penalty\n\n  Levy and late payment penalty are payable to APRA on behalf of the Commonwealth.","sortOrder":34},{"sectionNumber":"26F","sectionType":"section","heading":"Waiver of levy and late payment penalty","content":"26F  Waiver of levy and late payment penalty\n\n  On behalf of the Commonwealth, APRA may waive the whole or a part of an amount of levy or late payment penalty.","sortOrder":35},{"sectionNumber":"26G","sectionType":"section","heading":"Recovery of levy and late payment penalty","content":"26G  Recovery of levy and late payment penalty\n\n (1) The following amounts may be recovered by the Commonwealth as debts due to the Commonwealth:\n\n (a) levy that is due and payable;\n\n (b) late payment penalty that is due and payable.\n\n (2) APRA may bring proceedings in the name of the Commonwealth (as its agent) for the recovery of a debt due to the Commonwealth as described in subsection (1).","sortOrder":36},{"sectionNumber":"26H","sectionType":"section","heading":"Exempting laws ineffective","content":"26H  Exempting laws ineffective\n\n (1) A law made before the commencement of this section does not exempt an ADI or general insurer from liability to pay levy.\n\n (2) A law made on or after the commencement of this section purporting to exempt an ADI or general insurer from liability to pay taxes under laws of the Commonwealth that would otherwise include levy does not exempt the ADI or general insurer from liability to pay levy unless the exemption expressly refers to levy under the Act under which the levy is imposed.","sortOrder":37},{"sectionNumber":"Part 3B","sectionType":"part","heading":"Private health insurance collapsed insurer levy","content":"Part 3B—Private health insurance collapsed insurer levy","sortOrder":38},{"sectionNumber":"26J","sectionType":"section","heading":"Definitions","content":"26J  Definitions\n\n  In this Part:\n\ncollapsed insurer levy day has the same meaning as in the Private Health Insurance (Collapsed Insurer Levy) Act 2003.\n\nlate payment penalty means penalty payable under section 26M.\n\nlevy means levy imposed by the Private Health Insurance (Collapsed Insurer Levy) Act 2003.\n\nlevy determination, in relation to a collapsed insurer levy day, means the determination under section 7 of the Private Health Insurance (Collapsed Insurer Levy) Act 2003 because of which that day is a collapsed insurer levy day.","sortOrder":39},{"sectionNumber":"26K","sectionType":"section","heading":"Liability to levy","content":"26K  Liability to levy\n\n  A private health insurer is liable to pay a levy imposed on the insurer on a collapsed insurer levy day.","sortOrder":40},{"sectionNumber":"26L","sectionType":"section","heading":"When levy due for payment","content":"26L  When levy due for payment\n\n  A levy imposed on a private health insurer on a collapsed insurer levy day is due and payable on the day specified in the levy determination as the payment day in relation to that collapsed insurer levy day.","sortOrder":41},{"sectionNumber":"26M","sectionType":"section","heading":"Late payment penalty","content":"26M  Late payment penalty\n\n (1) If any levy payable by a private health insurer:\n\n (a) is not paid on or before the day on which it is due and payable (the due day for payment); and\n\n (b) remains unpaid after the penalty calculation day;\n\nthe insurer is liable to pay, by way of penalty, an amount worked out at the applicable rate per year on the amount unpaid, computed from the end of the due day for payment to the end of the penalty calculation day.\n\n (2) The penalty calculation day is:\n\n (a) if the levy is paid on or after the first day of a month and before the sixth day of that month—the 20th day of the immediately preceding month; or\n\n (b) if the levy is paid on or after the sixth day of a month and before the 20th day of that month—the sixth day of that month; or\n\n (c) if the levy is paid on or after the 20th day of a month and on or before the last day of that month—the 20th day of that month.\n\n (3) The applicable rate, in relation to an amount of unpaid levy, is:\n\n (a) 15% (unless paragraph (b) applies); or\n\n (b) if, under a legislative instrument made by the Minister for the purposes of this paragraph, a specified rate of less than 15% applies in relation to the unpaid levy—that specified rate.","sortOrder":42},{"sectionNumber":"26N","sectionType":"section","heading":"Payment of levy and late payment penalty","content":"26N  Payment of levy and late payment penalty\n\n  Levy and late payment penalty are payable to APRA on behalf of the Commonwealth.","sortOrder":43},{"sectionNumber":"26P","sectionType":"section","heading":"Waiver of levy and late payment penalty","content":"26P  Waiver of levy and late payment penalty\n\n (1) The Minister may waive the whole or a part of an amount of levy or late payment penalty.\n\n (2) The Minister may, in writing, delegate to APRA the power under subsection (1) to waive levy or late payment penalty.","sortOrder":44},{"sectionNumber":"26Q","sectionType":"section","heading":"Recovery of levy and late payment penalty","content":"26Q  Recovery of levy and late payment penalty\n\n (1) The following amounts may be recovered by the Commonwealth as debts due to the Commonwealth:\n\n (a) levy that is due and payable;\n\n (b) late payment penalty that is due and payable.\n\n (2) APRA may bring proceedings in the name of the Commonwealth (as its agent) for the recovery of a debt due to the Commonwealth as described in subsection (1).","sortOrder":45},{"sectionNumber":"26R","sectionType":"section","heading":"Exempting laws ineffective","content":"26R  Exempting laws ineffective\n\n (1) A law made before the commencement of this section does not exempt a private health insurer from liability to pay levy.\n\n (2) A law made on or after the commencement of this section purporting to exempt a private health insurer from liability to pay taxes under laws of the Commonwealth that would otherwise include levy does not exempt the private health insurer from liability to pay levy unless the exemption expressly refers to levy under the Act under which the levy is imposed.","sortOrder":46},{"sectionNumber":"Part 4","sectionType":"part","heading":"Miscellaneous","content":"Part 4—Miscellaneous","sortOrder":47},{"sectionNumber":"27","sectionType":"section","heading":"Review of certain decisions","content":"27  Review of certain decisions\n\n (1) A levy paying entity that is affected by a reviewable decision of the decision maker may, if dissatisfied with the decision, request the decision maker to reconsider the decision.\n\n (2) The request must:\n\n (a) be made by notice given to the decision maker within:\n\n (i) the period of 21 days after the day on which the levy paying entity first receives notice of the decision; or\n\n (ii) the further period that the decision maker allows; and\n\n (b) set out the reasons for making the request.\n\n (3) When the decision maker receives the request the decision maker must reconsider the decision.\n\n (4) The decision maker may confirm or revoke the decision or vary the decision in the manner that the decision maker thinks fit. However, if the decision maker does not confirm, revoke or vary the decision within the period of 21 days after the day on which the decision maker received the request, the decision maker is taken to have confirmed the decision immediately after the end of that period.\n\n (5) If the decision maker confirms, revokes or varies the decision during the period of 21 days after the day on which the decision maker received the request, the decision maker is to give a notice in writing to the levy paying entity that made the request. The notice must set out the result of the reconsideration of the decision and the reasons for confirming, varying or revoking the decision, as the case may be.\n\n (6) Applications may be made to the Administrative Review Tribunal for review of:\n\n (a) decisions of the decision maker that have been confirmed or varied under subsection (4); and\n\n (b) decisions of the decision maker to revoke reviewable decisions.\n\n\n\n (8) If a request is made under subsection (1) in respect of a reviewable decision, section 32 of the Administrative Review Tribunal Act 2024 applies as if the making of the request were the making of an application to the Administrative Review Tribunal for a review of that decision.\n\n (9) An order must not be made under subsection 32(2) of the Administrative Review Tribunal Act 2024 in respect of a reviewable decision except by the Administrative Review Tribunal.\n\n (10) In this section:\n\ndecision maker, in relation to a reviewable decision, means:\n\n (a) if the reviewable decision is a decision of APRA under section 12—APRA; or\n\n (b) if the reviewable decision is a decision of the Minister under section 22 or subsection 26P(1)—the Minister.\n\nlevy paying entity means:\n\n (a) an entity that is a levy paying entity as defined in section 7; or\n\n (b) a trustee of a fund as defined in section 16.\n\nreviewable decision means:\n\n (a) a decision of APRA under section 12; or\n\n (b) a decision of the Minister under section 22 or subsection 26P(1).","sortOrder":48},{"sectionNumber":"28","sectionType":"section","heading":"Statements to accompany notification of decisions","content":"28  Statements to accompany notification of decisions\n\n (1) If notice in writing is given to a levy paying entity affected by a reviewable decision that the reviewable decision has been made, that notice must include words to the effect that:\n\n (a) the levy paying entity may seek a reconsideration of the reviewable decision by the decision maker in accordance with subsection 27(1) if the levy paying entity is dissatisfied with the decision; and\n\n (b) the levy paying entity may, subject to the Administrative Review Tribunal Act 2024, apply to the Administrative Review Tribunal for review of a reviewable decision that is confirmed or varied under subsection 27(4), or for review of a decision to revoke a reviewable decision.\n\n (2) If:\n\n (a) the decision maker confirms or varies a reviewable decision under subsection 27(4), or makes a decision to revoke a reviewable decision under that subsection; and\n\n (b) gives the levy paying entity affected by the decision notice in writing of the confirmation or variation of the decision, or of the revocation of the decision;\n\nthat notice must include words to the effect that the levy paying entity may, subject to the Administrative Review Tribunal Act 2024, apply to the Administrative Review Tribunal for review of the reviewable decision as confirmed or varied, or for review of the decision to revoke the reviewable decision.\n\n (3) A failure to comply with the requirements of subsections (1) and (2) in relation to a reviewable decision or a decision under subsection 27(4) does not affect the validity of that decision.\n\n (4) In this section:\n\ndecision maker, in relation to a reviewable decision, has the same meaning as in section 27.\n\nlevy paying entity has the same meaning as in section 27.\n\nreviewable decision has the same meaning as in section 27.","sortOrder":49},{"sectionNumber":"29","sectionType":"section","heading":"Regulations","content":"29  Regulations\n\n (1) The Governor‑General may make regulations, not inconsistent with this Act, prescribing matters:\n\n (a) required or permitted by this Act to be prescribed; or\n\n (b) necessary or convenient to be prescribed for carrying out or giving effect to this Act.\n\n (2) Without limiting subsection (1), the regulations may, in particular:\n\n (a) provide for the manner of payment for levy, late payment penalty and other amounts payable under this Act; and\n\n (b) provide for the refund (or other application) of overpayments.","sortOrder":50}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"},"flash_summary":{"complexity_score":6,"scope_assessment":{"changed":true,"description":"The Act has expanded beyond an initially narrow collection function for a small set of prudential levies. The text now operates as a common collection and enforcement framework for multiple, distinct levy schemes: supervisory levies for ADIs and insurers (Part 2), a superannuation financial assistance levy (Part 3), Financial Claims Scheme levies for ADIs and general insurers (Part 3A), and a private health insurance collapsed insurer levy (Part 3B). It also incorporates trustee liability for superannuation funds, quarterly and monthly timing regimes, explicit anti‑exemption rules for later laws, and a broad set of administrative powers for APRA and the Minister (see ss 7–8, 16–21, 26A–26G, 26J–26R). These additions extend the Act’s scope from simply collecting a limited class of supervisory levies to being a generalised statutory collection, penalty and enforcement vehicle for multiple government levy schemes affecting a wider set of financial institutions and trustees."},"complexity_factors":["Multiple Parts covering different levy schemes (Part 2, Part 3, Part 3A, Part 3B) with overlapping but distinct rules","Cross‑references to at least 9 separate external Acts that actually impose levies (e.g. various Supervisory Levy Imposition Acts, Financial Claims Scheme Levy Acts, Collapsed Insurer Levy Act) (see s 7, s 26A, s 26J)","Definitions spread across several interpretation sections (ss 6, 7, 16, 26A, 26J) — roughly 25–35 defined terms across the Act","Different timing rules for different payer types (annual, quarterly, specific liability days, regulation‑specified dates and APRA‑specified later dates) (ss 8–9, 19, 26C, 26L)","Multiple late‑payment penalty formulas and tiered applicable rates (20% p.a. pro‑rata typical; 15% or legislated lower rate for some private health insurer levies; monthly pro‑rata calculation in Parts 3 and 3A) (ss 10, 20, 26D, 26M)","Administrative discretions to waive or postpone payments held by APRA and/or the Minister across different Parts (ss 12, 22, 26F, 26P, 26C(3), 26D(3))","Enforcement provisions allowing APRA to sue as the Commonwealth’s agent and recovery as debts (ss 13, 23, 26G, 26Q)","Anti‑exemption clauses preventing other laws from creating implied exemption unless expressly referring to these levies (ss 14, 25, 26H, 26R)","References to external administrative review machinery (Administrative Review Tribunal Act 2024) for reconsideration and tribunal appeals (ss 27–28)","Regulation‑making power to modify mechanics and payment procedures (s 29 and s 15 allowing regulatory modification where levy Acts commence mid‑year)"],"plain_english_summary":"The Act establishes how APRA‑regulated levies are collected, when they’re due, how late penalties are calculated, and how unpaid amounts are recovered; it links to separate levy Acts for amounts and lets APRA (and sometimes the Minister) administer notices, waivers and recovery. \n\nIt applies to ADIs, NOHCs, insurers, private health insurers, RSA providers and certain superannuation entities/trustees. It matters because it enforces funding for supervision and related schemes, creates binding payment liabilities and penalties, and imposes compliance and cash‑flow risks while allowing administrative discretion for relief."}},"importantCases":[],"_links":{"self":"/api/acts/financial-institutions-supervisory-levies-collection-act-1998","history":"/api/acts/financial-institutions-supervisory-levies-collection-act-1998/history","analysis":"/api/acts/financial-institutions-supervisory-levies-collection-act-1998/analysis","conflicts":"/api/acts/financial-institutions-supervisory-levies-collection-act-1998/conflicts","importantCases":"/api/acts/financial-institutions-supervisory-levies-collection-act-1998/important-cases","documents":"/api/acts/financial-institutions-supervisory-levies-collection-act-1998/documents"}}