3Simplified outline of this Act

3 Simplified outline of this Act

This Act is about the collection of levy imposed by the ASIC Supervisory Cost Recovery Levy Act 2017.

ASIC must give a notice specifying when levy is due for payment.

Late payment penalty will be payable if levy remains unpaid after it becomes due for payment.

Leviable entities must provide returns to ASIC for a financial year. Notice of when and how a return is to be provided will be published on ASIC’s website.

There are rules dealing with returns that are not given, are unsatisfactory, or are false or misleading.