Document ID: chunk:federal_register_of_legislation:C2023A00046:clause:1_1069h:p2
Version: federal_register_of_legislation:C2023A00046
Segment Type: clause
Provision Reference: sch 1 cl 1069H (pt 2/2)
Character Range: 31439–33028

in a timely manner; and
 (b) for each of one or more specified sub‑sectors—specify a total amount of special levy that needs to be imposed for the levy period across all members of the specified sub‑sector if the Minister has had regard to:
 (i) the impact that imposing that total amount of special levy may have on the financial sustainability and viability of the specified sub‑sector; and
 (ii) the impact that imposing that total amount of special levy across all members of the specified sub‑sector may have on the financial system more broadly; and
 (c) specify the sum of the total amounts of special levy specified under paragraph (b) of this subsection, which must not exceed the difference between:
 (i) the revised claims, fees and costs estimate (referred to in subsection (1) of this section) for the levy period and the primary sub‑sector; and
 (ii) the total amount of levy already paid as worked out under subsection (6) of this section.

Working out the total amount of levy already paid
 (6) For the purposes of subparagraph (4)(b)(ii) or (5)(c)(ii), work out the sum of:
 (a) the total amount of levy paid that was earlier imposed by section 8 of the Financial Services Compensation Scheme of Last Resort Levy Act 2023 across all persons for the levy period and the primary sub‑sector; and
 (b) the total amount of levy paid that was earlier imposed by section 9 of that Act across all persons for all sub‑sectors in relation to any earlier revised claims, fees and costs estimate for the levy period and the primary sub‑sector.

Division 5—Regulating the CSLR operator