Document ID: chunk:federal_register_of_legislation:C2020C00185:section:7
Version: federal_register_of_legislation:C2020C00185
Segment Type: section
Provision Reference: s 7
Character Range: 4452–5682

7  Amount of levy
 (1) Subject to subsection (2), the amount of levy payable by an authorised NOHC for a financial year is:
 (a) if the authorised NOHC is an authorised NOHC within the meaning of the Banking Act 1959—the amount determined, by legislative instrument, by the Treasurer for the purpose of this paragraph in relation to the financial year; or
 (b) if the authorised NOHC is an authorised NOHC within the meaning of the Insurance Act 1973—the amount determined, by legislative instrument, by the Treasurer for the purpose of this paragraph in relation to the financial year; or
 (c) if the authorised NOHC is a registered NOHC within the meaning of the Life Insurance Act 1995—the amount determined, by legislative instrument, by the Treasurer for the purpose of this paragraph in relation to the financial year.
The amount determined under paragraph (a), (b) or (c) in relation to a financial year must not exceed the statutory upper limit for the financial year.
 (2) If the levy imposition day for the authorised NOHC for the financial year is later than 1 July in the financial year, the amount of levy payable by the authorised NOHC for the financial year is the amount worked out using the following formula: