Document ID: chunk:federal_register_of_legislation:C2005A00017:clause:1_2
Version: federal_register_of_legislation:C2005A00017
Segment Type: clause
Provision Reference: sch 1 cl 2
Character Range: 1447–2808

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

 (1) Subject to subsection (2), the amount of levy payable by an RSA provider for a financial year is the sum of the restricted levy component and the unrestricted levy component for the financial year.

Note: For restricted levy component, see subsection (1A). For unrestricted levy component, see subsection (1B).

 (1A) The restricted levy component for the financial year is:
 (a) unless paragraph (b) or (c) applies—the amount that, for the financial year, is the restricted levy percentage of the RSA provider's asset value; or
 (b) if the amount worked out under paragraph (a) exceeds the maximum restricted levy amount for the financial year—the maximum restricted levy amount; or
 (c) if the amount worked out under paragraph (a) is less than the minimum restricted levy amount for the financial year—the minimum restricted levy amount.

Note: The restricted levy percentage, maximum restricted levy amount, minimum restricted levy amount and the method of working out the RSA provider's asset value are as determined under subsection (3).

 (1B) The unrestricted levy component for the financial year is the amount that, for the financial year, is the unrestricted levy percentage of the RSA provider's asset value.

Note: The unrestricted levy percentage is as determined under subsection (3).