Document ID: chunk:federal_register_of_legislation:F2021C00174:reg:3:p17
Version: federal_register_of_legislation:F2021C00174
Segment Type: reg
Provision Reference: reg 3 (pt 17/29)
Character Range: 92874–96111

can forfeit a membership.

      [Insert if relevant] How annual levies are calculated

           [Insert if relevant] Annual levies

Membership option  Amount  How levies are calculated

           Division 4—How to fill in the Fees and Costs Summary

           211 If there are no levies payable

                  If there are no levies payable, remove:

                     (a) in the preamble, all references to levies;

                     (b) in the Fees and Costs Summary table, the words "See description below "How annual levies are calculated" for the specific amount payable";

                     (c) the heading "How annual levies are calculated" and the accompanying Annual levies table.

           212 If there are levies payable

                  (1) Levies include amounts payable on a periodic and one-off basis (excluding special levies).

                  (2) If there are levies payable:

                     (a) in the Fees and Costs Summary table:

                         (i) the "Amount" and "How and when paid" columns must be based on the membership option held by the greatest number of members;

                         (ii) column 2 must set out the amount of the annual levy for the membership option;

                         (iii) if it is not possible to determine a single amount for the levies or a single number of points, column 2 must set out a range of amounts.

                     (b) in the Annual levies table:

                         (i) column 1 must set out the membership options available;

                         (ii) if the same levies are charged for all membership options, column 1 must state "All membership options";

                         (iii) column 2 must set out the levy or range of levies payable opposite the membership option(s) described in column 1;

                         (iv) column 3 must set out opposite the membership option(s) described in column 1, the levies payable and how they are calculated.

                               Example 1: The levy is your share of the total amount of levies budgeted to be raised based on the number of points and type of membership you have. For the first year of membership, the pro-rata proportion of the levy which relates to the remaining period of that calendar year will be due on 1 January of the following year.

                               Example 2: A budget is calculated for the upcoming calendar year and divided into the number of weeks in the year. Members pay in proportion to the number of weeks their membership entitles them to use.

           213 If there is no financing arrangement

              If there is no financing arrangement offered, remove:

                     (a) in the preamble, references to financing; and

                     (b) in the Fees and Costs Summary table, the heading "Financing related fees and costs" and the information under that heading.

           214 If there is a financing arrangement

              If there is a financing arrangement offered, the amounts shown in the "Amounts" column in relation to financing fees and costs must be calculated on the basis of:

                     (a) borrowing