Commonwealth legislation

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2009

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This Determination sets the annual supervisory levy that authorised non-operating holding companies (NOHCs) must pay to the Australian Government for the 2009–2010 financial year.

An authorised NOHC is a company that owns a controlling interest in a financial institution (like a bank) but doesn't run day-to-day operations itself—it simply holds the shares. The government charges these holding companies a fee to cover the costs of regulating and supervising them.

Key points:

The levy amount is $10,000 per authorised NOHC
This replaces the 2008 Determination (which set the previous year's amount)
Applies only to the 2009–2010 financial year (starting 1 July 2009)

This is a routine annual update to ensure financial holding companies contribute to regulatory costs.

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Current sections

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Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2009

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Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 20091

Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998

I, CHRIS BOWEN, Minister for Financial Services, Superannuation and Corporate Law, make this Determination under subsection 7 (1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Dated 1 July 2009

CHRIS BOWEN

Minister for Financial Services, Superannuation and Corporate Law

1 Name of Determination

This Determination is the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2009.

2 Commencement

This Determination commences on 1 July 2009.

3 Revocation of Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2008

The Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2008 is revoked.

4 Definitions

In this Determination:

2009–2010 financial year means the financial year beginning on 1 July 2009.

Act means the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Note authorised NOHC is defined in section 5 of the Act.

5 Amount of levy (Act s 7)

For subsection 7 (1) of the Act, the amount of levy payable by an authorised NOHC described in that subsection is $10 000 for the 2009–2010 financial year.

Note

Note: 1. All legislative instruments and compilations are registered on the Federal Register of Legislative Instruments kept under the Legislative Instruments Act 2003. See http://www.frli.gov.au.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2009