CTHRepealedAct
Securities Industry Act 1980
108Levy in addition to annual contributions
Start here
Get a plain-English read of 108
Turn the raw legal text into a practical explanation grounded in Securities Industry Act 1980.
##### 108 Levy in addition to annual contributions
(1) If at any time the amount of a fidelity fund is insufficient to pay all amounts that, at that time, are required to be paid under section 103, the securities exchange may impose on each person who is liable to contribute to the fund a levy of such amount as it thinks fit for payment into the fund.
(2) The amount of such a levy shall be paid within the time and in the manner specified by the securities exchange either generally or in relation to a particular case.
(3) A person is not required to pay by way of levy under this section more than $5,000 in the aggregate or more than $1,000 in any period of 12 months.