Document ID: chunk:federal_register_of_legislation:C2004A01135:clause:1_3
Version: federal_register_of_legislation:C2004A01135
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 1986–2634

3  Subsection 7(1)
Repeal the subsection, substitute:

 (1) Subject to subsection (2):
 (a) the rate or rates of a levy that are imposed because of one or more grants of financial assistance under Part 23 of the Superannuation Industry (Supervision) Act 1993; and
 (b) the maximum amount of levy, and the minimum amount of levy, that is payable;
are to be fixed on the basis that the amount of revenue to be raised by the levy or by the levy and any previous levy imposed because of the same grant or grants of financial assistance is not to exceed the amount of levy needed to recoup the Commonwealth for the amount of that financial assistance.