108Levies

108 Levies (1) Where, at any time the Registrar considers that the moneys of the Fund are not sufficient to satisfy the liabilities of the Registrar in relation to the moneys of the Fund, the Registrar may, with the approval of the Administrator, impose a levy of such amount, not exceeding 100 monetary units a year, as the Registrar thinks fit for payment to the Fund. (2) Subject to this section: (a) a levy imposed under subsection (1) is payable on the date fixed, for the purpose of this section, by the Registrar by notice published in the Gazette; and (b) a levy so imposed is payable by each agent who, on that date, holds a licence and is payable also by such an agent in respect of each agent's representative employed by that (3) The Registrar may, if he or she thinks that the circumstances so warrant, extend the time for payment of a levy by an agent and, in such a case, the levy is payable by that agent on the date fixed by the Registrar under this subsection. (4) Where an agent does not pay a levy in accordance with this section the Registrar shall record the fact in the register and so long as the levy remains unpaid, the agent shall be deemed to be unlicensed.