5Definitions

5 Definitions

In this Act, unless the contrary intention appears:

ADI has the same meaning as in the Banking Act 1959.

Note: ADI is short for authorised deposit‑taking institution.

indexation factor means the indexation factor calculated under section 8.

index number, in relation to a quarter, means the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.

levy imposition day, in relation to an ADI for a financial year, means:

(a) if the ADI is an ADI on 1 July of the financial year—that day; or
(b) in any other case—the day, during the financial year, on which the ADI becomes an ADI.

statutory upper limit means:

(a) for the financial year commencing on 1 July 2020—$10,000,000; or
(b) for a later financial year—the amount calculated by multiplying the statutory upper limit for the previous financial year by the indexation factor for the later financial year.