Authorised Non-operating Holding Companies Supervisory Levy Imposition Act 1998
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5 Definitions
In this Act, unless the contrary intention appears:
authorised NOHC means:
(a) an authorised NOHC within the meaning of the Banking Act 1959 or the Insurance Act 1973; or
(b) a registered NOHC within the meaning of the Life Insurance Act 1995.
Note: NOHC is short for non‑operating holding company.
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 authorised NOHC for a financial year, means:
(a) if the authorised NOHC is an authorised NOHC on 1 July of the financial year—that day; or
(b) in any other case—the day, during the financial year, on which the authorised NOHC becomes an authorised NOHC.
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.