{"id":"C2004A03862","name":"National Guarantee Fund (Reportable Transactions) Levy Act 1989","slug":"national-guarantee-fund-reportable-transactions-levy-act-1989","collection":"act","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":"114 of 1989","makingDate":null,"administeringDepartment":null,"currentVersion":{"id":36856,"registerId":"commonwealth-C2004A03862-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"National Guarantee Fund (Reportable Transactions) Levy Act 1989","content":"![1.jpg](image.001.jpeg)\n\nNational Guarantee Fund (Reportable Transactions) Levy Act 1989\n\nNo. 114 of 1989\n\nAn Act to impose a levy on certain transactions in securities\n\n\\[Assented to 14 July 1989\\]\n\nBE IT ENACTED by the Queen, and the Senate and the House of Representatives of the Commonwealth of Australia, as follows:\n\nShort title\n\n1. This Act may be cited as the National Guarantee Fund (Reportable Transactions) Levy Act 1989.\n\nCommencement\n\n2\\. This Act commences on the same day as Part 7.10 of the Corporations Act 1989.\n\nIncorporation\n\n3. The Corporations Act 1989 is incorporated, and shall be read as one, with this Act, and shall be so read as if the provisions of this Act were provisions of Division 4 of Part 7.10 of that Act.\n\nImposition of levy\n\n4. Any levy that is payable under section 938 of the Corporations Act 1989 is imposed by this Act.\n\n  \nRate of levy\n\n5. (1) The levy is payable at such rate or rates (not exceeding the prescribed rate) as are determined by SEGC.\n\n(2) SEGC may determine under subsection (1) different rates of levy in respect of:\n\n(a) transactions in different kinds of securities; or\n\n(b) transactions by dealers included in different classes of dealers.\n\nRegulations\n\n6. (1) The Governor-General may make regulations prescribing a maximum rate or maximum rates for the purposes of section 5.\n\n(2) The regulations may prescribe different maximum rates in relation to:\n\n(a) transactions in different kinds of securities; or\n\n(b) transactions by dealers included in different classes of dealers.\n\n\\[Minister’s second reading speech made in—\n\nHouse of Representatives on 25 May 1988\n\nSenate on 14 October 1988\\]","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1812},"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This is the original 1989 legislation. It maintains its narrow, specific purpose of imposing the constitutional basis for the National Guarantee Fund levy without expansion into broader regulatory matters."},"complexity_factors":["Incorporation by reference requires reading alongside the Corporations Act 1989 to understand operative provisions","Delegation of substantive rate-setting to external body (SEGC) rather than Parliament","Secondary delegation of maximum rate caps to Governor-General in Council via regulations","Conditional commencement tied to commencement of Part 7.10 of the Corporations Act 1989"],"plain_english_summary":"This Act imposes a mandatory levy on certain stockmarket transactions to fund the National Guarantee Fund, which compensates investors if a stockbroking firm collapses owing them money or securities. \n\nThe Stock Exchange Guarantee Corporation sets the levy rate within a Governor‑General‑set maximum and may vary rates; stockbrokers/dealers (who typically pay and may pass costs on) and investors in covered securities are the main parties affected."}},"importantCases":[],"_links":{"self":"/api/acts/national-guarantee-fund-reportable-transactions-levy-act-1989","history":"/api/acts/national-guarantee-fund-reportable-transactions-levy-act-1989/history","analysis":"/api/acts/national-guarantee-fund-reportable-transactions-levy-act-1989/analysis","conflicts":"/api/acts/national-guarantee-fund-reportable-transactions-levy-act-1989/conflicts","importantCases":"/api/acts/national-guarantee-fund-reportable-transactions-levy-act-1989/important-cases","documents":"/api/acts/national-guarantee-fund-reportable-transactions-levy-act-1989/documents"}}