Document ID: chunk:federal_register_of_legislation:C2013C00589:clause:1_24
Version: federal_register_of_legislation:C2013C00589
Segment Type: clause
Provision Reference: sch 1 cl 24
Character Range: 54241–55227

24  How payments of levy and late payment penalty and repayments of financial assistance are to be applied
 (1) If a levy is imposed as a result of a determination by the Minister to make a grant of financial assistance not from the Account, then the following amounts must be paid to the Commonwealth and not credited to the Account:
 (a) any amounts of that levy, and of late payment penalty in respect of that levy, that are received by the Minister; and
 (b) any repayments of that financial assistance.
 (2) If a levy is imposed as a result of a determination by the Minister to make a grant of financial assistance from the Account, then the following amounts must be paid to the Commonwealth and credited to the Account:
 (a) amounts equal to any amounts of that levy, and of late payment penalty in respect of that levy, that are received by the Minister; and
 (b) amounts equal to any repayments of that financial assistance.

Financial Management and Accountability Act 1997