Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p1
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 1/24)
Character Range: 1476872–1479843

21                                         The Australian Property Institute Valuers Limited Professional Standards Scheme, published in the New South Wales Government Gazette No. 214, 21 May 2021                                                                                                                                                                                         1 September 2021

7.10.03  Exemption for market participants of qualifying gas trading exchange
  For paragraph 1045A(1)(a) of the Act, a person is exempt from Part 7.10 of the Act if the person:
 (a) is a participant in relation to a qualifying gas trading exchange; and
 (b) is engaging in trading activities in relation to qualifying gas exchange products on a qualifying gas trading exchange.

Part 7.10B—Financial services compensation scheme of last resort

7.10B.50  Reporting by CSLR operator if sub‑sector levy cap could be exceeded (or further exceeded)
  For the purposes of subsection 1069F(4) of the Act, the following information is prescribed for a notice about a revised claims, fees and costs estimate for a levy period and a sub‑sector that has come into force and could cause the sub‑sector levy cap for the levy period and sub‑sector to be exceeded (or further exceeded):
 (a) the number of applications made under section 1066 of the Act that underpin the revised estimate;
 (b) the total amount of compensation that (having regard to actuarial principles) will be payable under section 1063 of the Act for those applications;
 (c) the portion of the sum of AFCA's unpaid fees that (having regard to actuarial principles) will be attributable to the sub‑sector and that underpins the revised estimate.

7.10B.55  Reporting by CSLR operator after the end of each levy period
  For the purposes of subsection 1069G(1) of the Act, the following matters are prescribed for a report for a levy period:
 (a) the CSLR operator's estimate of the costs for the financial services compensation scheme of last resort for the levy period, including the following:
 (i) each claims, fees and costs estimate (within the meaning of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023) for the levy period;
 (ii) for the first levy period—the estimate under section 11 of that Act;
 (iii) for each of the first 4 levy periods—any revised estimate under section 12 of that Act that is made before the time of preparing the report and that has not been included in an earlier report;
 (b) the CSLR operator's approach to determining each of these estimates;
 (c) the number of applications made under section 1066 of the Act during the levy period;
 (d) the number of payments of amounts of compensation under section 1063 of the Act during the levy period, and the total of those amounts;
 (e) the number of applications made under section 1066 of the Act by persons during the levy period for which the persons are not eligible under section 1064 of