Commonwealth legislation

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2015

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

What this is: A short legal instrument that sets the annual government fee for certain financial company holding groups.

Who it affects: Authorised non-operating holding companies (NOHCs). These are special parent companies that own banks or other financial institutions but don't run day-to-day banking operations themselves. They need authorization from the banking regulator (APRA) to exist.

What it does: For the 2015–2016 financial year, this determination fixes the supervisory levy at $10,000 per company. This fee covers the cost of government supervision and regulation.

Why it matters: It replaces the previous year's determination (2014) to set the fee for the new financial year. Despite being just one page, it carries legal force—companies must pay this amount or face penalties for non-payment.

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Direct links to the current provisions in Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2015.

Authorised Non-operating Holding Companies Supervisory Levy Imposition Determination 2015

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Commonwealth Coat of Arms

Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2015

I, Joshua Frydenberg, Assistant Treasurer, make the following determination under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Dated: 25 June 2015

Joshua Frydenberg

Assistant 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 2015.

2 Commencement

This determination commences on 1 July 2015.

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The Authorised Non‑operating Holding Companies Supervisory Levy Imposition Determination 2014 is repealed.

5 Definitions

In this determination:

2015‑2016 financial year means the financial year commencing on 1 July 2015.

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 2015‑2016 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 2015

I, Joshua Frydenberg, Assistant Treasurer, make the following determination under subsection 7(1) of the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998.

Dated: 25 June 2015

Joshua Frydenberg

Assistant 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 2015.

2 Commencement

This determination commences on 1 July 2015.

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 2014 is repealed.

5 Definitions

In this determination:

2015‑2016 financial year means the financial year commencing on 1 July 2015.

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 2015‑2016 financial year.

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

Read the source document