Commonwealth legislation

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2014

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This Act has been repealed and is no longer in force. It is retained for historical reference.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 that certain financial companies must pay to the government.

Who it affects

Authorised non-operating holding companies (NOHCs) — these are parent companies that own banks, insurers or other financial businesses but don't carry out day-to-day trading operations themselves (think of them as umbrella companies that hold investments but don't sell products directly).

What it does

Fixes the levy at $10,000 for the 2014-2015 financial year.
Replaces the previous year's determination (from 2013).

Why it matters This fee helps fund government oversight of these holding companies to ensure they remain financially stable and properly managed. It operates like an annual registration fee for being allowed to function as a financial holding company in Australia.

The determination is made under the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998, which gives the Minister power to set this yearly charge.

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Current sections

Direct links to the current provisions in Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2014.

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2014

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Commonwealth Coat of Arms

Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2014

I, Mathias Cormann, Minister for Finance, make the following determination under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Dated: 25 June 2014

Mathias Cormann

Minister for Finance

for the Treasurer

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 2014.

2 Commencement

This determination commences on 1 July 2014.

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 2013 is repealed.

5 Definitions

In this determination:

2014‑2015 financial year means the financial year commencing on 1 July 2014.

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 2014‑2015 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 2014

I, Mathias Cormann, Minister for Finance, make the following determination under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Dated: 25 June 2014

Mathias Cormann

Minister for Finance

for the Treasurer

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 2014.

2 Commencement

This determination commences on 1 July 2014.

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 2013 is repealed.

5 Definitions

In this determination:

2014‑2015 financial year means the financial year commencing on 1 July 2014.

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 2014‑2015 financial year.

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

Read the source document