Commonwealth legislation

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2013

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 fee (levy) that certain financial companies must pay to the government for the 2013-2014 financial year.

Who it affects

Authorised non-operating holding companies (NOHCs): These are companies that own banks or financial institutions but don't conduct banking operations themselves (they act as parent or "holding" companies).

What it does

Fixes the levy amount at $10,000 for the 2013-2014 financial year
Replaces the previous year's determination (2012)

Why it matters

This fee helps cover the cost of government supervision and regulation of these financial groups
It ensures these entities contribute to the regulatory system that monitors them

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Current sections

Direct links to the current provisions in Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2013.

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2013

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Commonwealth Coat of Arms

Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2013

I, William Richard Shorten, Minister for Financial Services and Superannuation, make the following determination under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Dated: 24 June 2013

William Richard Shorten

Minister for Financial Services and Superannuation

Contents

1 Name of determination

2 Commencement

3 Authority

4 Repeal

5 Definitions

6 Amount of levy

1 Name of determination

This determination is the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2013.

2 Commencement

This determination commences on 1 July 2013.

3 Authority

This determination is made under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

4 Repeal

The Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2012 is repealed.

5 Definitions

In this determination:

2013‑2014 financial year means the financial year commencing on 1 July 2013.

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

6 Amount of levy

For paragraphs 7(1)(a), (b) and (c) of the Act, the amount of levy payable by an authorised NOHC described in those paragraphs is $10 000 for the 2013‑2014 financial year.

Note: Authorised NOHC is defined in section 5 of the Act.

Source text

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

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Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2013

Dated: 24 June 2013

William Richard Shorten

Minister for Financial Services and Superannuation

Contents

1 Name of determination

2 Commencement

3 Authority

4 Repeal

5 Definitions

6 Amount of levy

1 Name of determination

This determination is the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2013.

2 Commencement

This determination commences on 1 July 2013.

3 Authority

This determination is made under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

4 Repeal

The Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2012 is repealed.

5 Definitions

In this determination:

2013‑2014 financial year means the financial year commencing on 1 July 2013.

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

6 Amount of levy

For paragraphs 7(1)(a), (b) and (c) of the Act, the amount of levy payable by an authorised NOHC described in those paragraphs is $10 000 for the 2013‑2014 financial year.

Note: Authorised NOHC is defined in section 5 of the Act.

Read the source document