Commonwealth legislation

Insurance Supervisory Levies Collection Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

82 of 1989

Collection

legislative instrument

Plain English Summary

2/10 complexity

These Regulations set out practical rules for how insurers pay supervisory levies: levies are paid to the Receiver of Public Moneys at any Commissioner office, and the Commissioner may refund accidental overpayments. Insurers exempt under section 37 of the Insurance Act 1973 receive a $9,000 annual levy reduction.

They affect insurers liable under the Insurance Supervisory Levies Collection Act 1989 and ensure fee collection while protecting payers and granting relief to exempt entities.

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Current sections

Direct links to the current provisions in Insurance Supervisory Levies Collection Regulations.

Insurance Supervisory Levies Collection Regulations

Commonwealth Coat of Arms of Australia

Statutory Rules 1989 No. 821

Insurance Supervisory Levies Collection

Regulations

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Insurance Supervisory Levies Collection Act 1989.

Dated 27 April 1989.

BILL HAYDEN

Governor-General

By His Excellency’s Command,

Peter Morris

Minister of State for Industrial Relations

for and on behalf of the

Treasurer

Citation

These Regulations may be cited as the Insurance Supervisory Levies Collection Regulations.

Interpretation

In these Regulations, unless the contrary intention appears:

“the Act” means the Insurance Supervisory Levies Collection Act 1989.

Remission of levy

Where levy is payable by a body corporate in respect of which an exemption under subsection 37 (1) of the Insurance Act 1973 is in force, the amount of $9,000 is remitted from the annual rate (within the meaning of subsection 9 (1) of the General Insurance Supervisory Levy Act 1989) of the levy that would otherwise be so payable.

Manner of payment of levy

Levy and other amounts payable to the Commonwealth under the Act shall be paid to the Receiver of Public Moneys at any office of the Commissioner.

(S.R. 67/89) Cat. No. 14/17.4.1989

Refund of overpayments

Where:

(a) an amount is payable by a person under the Act; and

(b) an amount greater than the amount so payable is paid by that person;

the Commissioner may refund to that person an amount equal to the amount of the overpayment.

NOTE

1. Notified in the Commonwealth of Australia Gazette on 4 May 1989.

Printed by Authority by the Commonwealth Government Printer

Source text

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

1 Insurance Supervisory Levies Collection Regulations