10Revised estimate of claims, fees and costs for a levy period

10 Revised estimate of claims, fees and costs for a levy period

(1) The CSLR operator may: (a) after the start of the second levy period or a later levy period; and (b) after recalculating the amounts referred to in subsections 9(1) and (2) for the levy period and a sub‑sector; determine for the levy period and the sub‑sector a revised estimate using those recalculated amounts.

Note: A single instrument may determine revised estimates for several sub‑sectors.

(2) The determination must include each of the recalculated amounts referred to in paragraph (1)(b) (including each of the recalculated amounts referred to in subparagraphs 9(1)(b)(i) to (v) and paragraph 9(2)(c)). (3) The determination may specify whether further levy needs to be imposed under subsection 8(2) of the Levy Act for the levy period and the sub‑sector. (4) The determination must be made as a legislative instrument if the determination so specifies that further levy needs to be imposed. Otherwise, the determination may be made as a legislative instrument or a notifiable instrument.

Note: If the determination is made as a notifiable instrument, any shortfall in levy can only be recovered:

(a) as annual levy for a later levy period (see paragraph 9(1)(c) and subsection 9(5)), which will require a legislative instrument to be made under subsection 9(1); or
(b) as special levy resulting from a legislative instrument made by the Minister under section 1069H of the Corporations Act 2001.