122EBLevy on reportable transactions

##### 122EB Levy on reportable transactions (1) Where the amount in the Fund is less than the minimum amount, the Corporation may, whether or not it also imposes a levy under section 122FB, impose a levy on reportable transactions. (2) A levy imposed under this section is payable: (a) in respect of a reportable transaction included in a class of transactions, or in any of 2 or more classes of transactions, determined in writing by the Corporation for the purposes of the levy; and (b) at a rate or rates so determined. (3) The Corporation may determine under subsection (2) different rates of levy in respect of: (a) transactions in different kinds of securities; or (b) transactions by dealers included in different classes of dealers. (4) Where the Corporation makes or varies a determination under subsection (2), it shall supply to each participating exchange a copy of the determination, or of the variation and of the determination as varied, as the case may be. (5) Notwithstanding subsection (2), where an amount of a levy imposed under a provision of a law of a participating State or participating Territory that corresponds with this section was payable in respect of a transaction and has been paid, an amount of a levy imposed under this section is not payable in respect of the transaction. (6) In this section, reportable transaction means a sale or purchase of securities by a person or partnership, where, as at the time when the agreement for the sale or purchase is made: (a) the sale or purchase is a reportable transaction as defined in subsection 122AA(1); and (b) the person or partnership is a member organisation of a participating exchange and is carrying on in the Territory a business of dealing in securities.