Document ID: chunk:federal_register_of_legislation:C2005A00013:clause:1_3
Version: federal_register_of_legislation:C2005A00013
Segment Type: clause
Provision Reference: sch 1 cl 3
Character Range: 1757–2486

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

 (1) Subject to subsection (2), the amount of levy payable by an authorised NOHC for a financial year is:
 (a) if the authorised NOHC is an authorised NOHC within the meaning of the Banking Act 1959—the amount determined in writing by the Treasurer for the purpose of this paragraph in relation to the financial year; or
 (b) if the authorised NOHC is an authorised NOHC within the meaning of the Insurance Act 1973—the amount determined in writing by the Treasurer for the purpose of this paragraph in relation to the financial year.
The amount determined under paragraph (a) or (b) must not exceed the statutory upper limit as at the time when the determination is made.