7Imposition of collapsed insurer levy

7 Imposition of collapsed insurer levy

(1) If:

(a) a private health insurer is a collapsed insurer; and

(b) the Minister determines, by legislative instrument, that this section applies to the insurer;

collapsed insurer levy is imposed on each private health insurer (other than an exempt insurer) on each collapsed insurer levy day for the levy determination.

Note: Section 8 deals with exempt insurers.

(2) The Minister may determine, by legislative instrument, the day that is, or the days that are, to be the collapsed insurer levy day or days for the levy determination.

(3) A determination specifying a collapsed insurer levy day must also specify the payment day for levy imposed on that collapsed insurer levy day.

Note: The payment day is the day on which the levy is due and payable under Part 3B of the Financial Institutions Supervisory Levies Collection Act 1998.