13When levy due for payment

13 When levy due for payment

Levy for pre‑CSLR complaints is payable in 2 instalments (1) Levy imposed by section 10 of the Levy Act on a person for the first levy period is payable by the person in 2 equal instalments. Each instalment is due and payable on a business day that is: (a) specified in a notice that ASIC gives to the person in relation to the instalment; and (b) not before the 30th day after the day on which the notice is given; and (c) for the first instalment—in the first levy period; and (d) for the second instalment—in the second levy period.

Note: The notice for the second instalment may be given in the first levy period. In that case, the person may choose to pay the second instalment in the first levy period, rather than waiting until the second levy period when the second instalment is due and payable.

Annual levy, further levy and special levy (2) Levy imposed by subsection 8(1), (2) or (3) or section 9 of the Levy Act on a person for the second levy period or a later levy period is payable by the person in a single instalment. The instalment is due and payable on a business day that is: (a) specified in a notice that ASIC gives to the person in relation to the levy period; and (b) not before the 30th day after the day on which the notice is given.

Note: If a person is given a notice for levy imposed by subsection 8(1) of the Levy Act for a levy period, the person will be given a further notice if any further levy is imposed by subsection 8(2) of that Act, or any special levy is imposed by subsection 8(3) or section 9 of that Act, on the person for the levy period.

ASIC’s notice may instead be given to a nominated person (3) If the person referred to in subsection (1) or (2) nominates another person by written notice given to ASIC: (a) the notice under paragraph (a) of that subsection may be given to the nominated person; and (b) the obligation imposed on the person by that subsection may be discharged by the nominated person. (4) To avoid doubt, subsection (3) does not otherwise affect the person’s liability to pay levy.