Document ID: chunk:federal_register_of_legislation:C2008A00103:section:4
Version: federal_register_of_legislation:C2008A00103
Segment Type: section
Provision Reference: s 4
Character Range: 3712–4300

4  Regulations may impose levies

 (1) In connection with the application of Subdivision C of Division 2AA of Part II of the Banking Act 1959 in relation to an ADI, the regulations may impose levy on the liabilities that:
 (a) are liabilities of ADIs in a class prescribed by the regulations to their depositors; and
 (b) exist at the end of a financial year or other 12‑month accounting period used instead of a financial year.

 (2) The regulations must prescribe the class for the purposes of paragraph (1)(a) so as to exclude all ADIs in relation to which that Subdivision applies.