Companies (Levies) Amendment Act 2022

1: Title
This Act is the Companies (Levies) Amendment Act 2022.
2: Commencement
This Act comes into force on the day after the date on which it receives the Royal assent.
3: Principal Act
This Act amends the Companies Act 1993 2022-11-29 Companies Act 1993
1: Amendment to allow levies to be imposed in relation to certain persons using services of certain registers
4: New sections 404 to 409 inserted
After section 403
404: Purpose of imposing levies
1: The purpose of imposing levies by regulations under section 405
a: the different registers listed in Schedule 14
b: all those registers should be funded, in part, through a levy imposed on specified users of each register, in a manner that is equitable, efficient, and justified; and
c: applying the principles of equity, efficiency, and justification is properly undertaken having regard to the cost of administering the whole system of registers, not on the basis of the costs of administering individual registers; and
d: money collected from specified users of 1 register can legitimately be used to meet the costs of operating any or all of the registers; and
e: using money collected from specified users of 1 or more registers in the way provided in paragraph (d)
2: In subclause (1) specified users Schedule 15
405: Regulations relating to levies
1: Every person that is included in a prescribed class of persons listed in Schedule 15 Schedule 15 persons
2: The Governor-General may, by Order in Council made on the recommendation of the Minister, make regulations providing for the levies.
3: Levies must be prescribed on the basis that the following costs should be met fully out of the levies:
a: a portion of the costs of a Registrar in performing or exercising the Registrar’s functions, powers, and duties under this Act, or any of the Acts listed in Schedule 14
b: the costs of collecting the levy money.
4: Levies may be prescribed on the basis that any actual cost that could have been, but has not been, recovered as a levy shortfall for a year may be recovered (along with any financing charge) over any period of up to 5 years.
5: The regulations may—
a: specify the class or classes of persons that are required to pay a levy:
b: specify the amount of levies, or the method of calculating or ascertaining the amount of levies:
c: include in levies, or provide for the inclusion in levies of, any shortfall in recovering the actual costs:
d: refund, or provide for refunds of, any over-recovery of the actual costs:
e: provide for the payment and collection of levies:
f: provide different levies for different classes of persons:
g: specify the financial year or part of a financial year to which a levy applies, and apply that levy to that financial year or part of a financial year and each subsequent financial year until the levy is revoked or replaced:
h: require payment of a levy for a financial year or part of a financial year, irrespective of the fact that the regulations may be made after that financial year has commenced:
i: provide for waivers or refunds of the whole or any part of a levy for any case or class of cases:
j: require the payment of levies for every transaction or any specific transaction (for example an annual return) undertaken by a person involving a register or registers:
k: require the levy to be paid as an identifiable part of the overall charge for each transaction or any specific transaction for which a fee is payable:
l: specify the timing or circumstances of the requirement to pay levies (including at different times or in different circumstances for the payment of levies for different classes of registered persons):
m: specify penalty payments for the late payment of a levy:
n: require the payment of interest on overdue levies.
6: Regulations made under this section are—
a: secondary legislation ( see
b: must be confirmed by an Act ( see
7: Schedule 4 of the Legislation Act 2019 is amended by inserting in the appropriate alphabetical order— The following table is small in size and contains 2 columns. Column 1 is headed Companies Act 1993. Column 2 is headed 405 Companies Act 1993 405 The following table is small in size and has 3 columns that are grouped under the heading Legislation Act 2019 requirements for secondary legislation made under this section. Legislation Act 2019 requirements for secondary legislation made under this section Publication PCO must publish it on the legislation website and notify it in the Gazette LA19 s 69(1)﻿(c) Presentation The Minister must present it to the House of Representatives LA19 s 114 Disallowance It may be disallowed by the House of Representatives LA19 ss 115 116 This note is not part of the Act.
406: Implementation of levies
1: A Registrar may refuse to perform or exercise a function, power, or duty until the prescribed levy is paid.
2: If a person is in 2 or more classes of Schedule 15
3: The amount of any unpaid levy is recoverable from a Schedule 15
407: Matters to which Minister must have regard
Before recommending the making of regulations under section 405
a: the purpose of imposing levies set out in section 404
b: levies should be set at a level to recover no more than—
i: the portion of costs set by the Minister under section 405(3)
ii: the costs of recovering the levy moneys.
408: Minister must consult
1: Before recommending the making of regulations under section 405
a: the persons that the Minister considers are able to represent the views of Schedule 15
b: any other representatives of persons who the Minister believes will be significantly affected by the proposed regulations.
2: Regulations made under section 405
3: The chief executive must ensure that proposals sent out for consultation (including any proposed amount of levy or method of calculating that levy) are available to the public on an Internet site maintained by or on behalf of the chief executive.
4: In this section and section 409 chief executive
409: Review of sections 404 to 408 and levies
1: The Minister must, not later than 5 years after the date on which the first regulations are made under section 405 sections 404 to 408 section 405
2: The chief executive must ensure that the report resulting from review carried out under subsection (1)
2: New Schedules 14 and 15 inserted
5: New Schedules 14 and 15 inserted
After Schedule 13 Schedule