Document ID: chunk:federal_register_of_legislation:C2025C00112:front:0:p1
Version: federal_register_of_legislation:C2025C00112
Segment Type: other
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Character Range: 0–2904

Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023

No. 45, 2023

Compilation No. 2

Compilation date: 21 February 2025

                Includes amendments: Act No. 14, 2025

About this compilation

This compilation

This is a compilation of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 that shows the text of the law as amended and in force on 21 February 2025 (the compilation date).

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on the Register (www.legislation.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the Register for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Editorial changes

For more information about any editorial changes made in this compilation, see the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the Register for the compiled law.

Self‑repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

Contents
Part 1—Preliminary
1 Short title
2 Commencement
3 Simplified outline of this Act
4 Act binds the Crown
5 External Territories
6 Extraterritorial application
7 Definitions
Part 2—Pre‑imposition information and estimates of claims and costs
8 Information required from levy payers before a levy period
9 Initial estimate of claims, fees and costs for a levy period
10 Revised estimate of claims, fees and costs for a levy period
11 Initial estimate of unpaid claims, and AFCA's unpaid fees, for complaints given to AFCA before the accumulation recovery day
12 Revised estimate of unpaid claims, and AFCA's unpaid fees, for complaints given to AFCA before the accumulation recovery day
Part 3—Payment of levy, late payment penalty and shortfall penalty
13 When levy due for payment
14 Late payment penalty
15 Default notice
16 Shortfall penalty
17 Payment of levy, late payment penalty and shortfall penalty
18 Waiver of levy, late payment penalty and shortfall