Document ID: chunk:federal_register_of_legislation:C2004A03415:body:0:p33
Version: federal_register_of_legislation:C2004A03415
Segment Type: other
Provision Reference: 
Character Range: 82020–84856

in the manner, specified in writing by the participating exchange either generally or in relation to particular members, particular classes of members, particular member organisations, or particular classes of member organisations, of the participating exchange.
"(5) Notwithstanding subsections (2) and (4), where an amount of a levy imposed:
     (a) by a participating exchange;
     (b) under a provision of a law of a participating State or participating Territory that corresponds with this section; and
     (c) for payment towards a levy imposed under section 122fb;
was payable by a member, or member organisation, of the participating exchange and has been paid, an amount of a levy imposed under this section by the participating exchange for payment towards the levy referred to in paragraph (c) of this subsection is not payable by the member or member organisation.
"(6) A participating exchange shall pay an amount paid to it by way of levy under this section in payment of the levy imposed under section 122fb.

"Division 5—Securities Industry Development Accounts

Interpretation
"122ga. In this Division, 'development account' means an account kept for the purposes of subsection 122gc (1).

Payments where Fund exceeds minimum amount
"122gb. (1) Where the amount in the Fund exceeds the minimum amount, the Board may, in its discretion, determine in writing that a specified amount equal to the whole or a part of the excess be paid out of the Fund:
     (a) unless paragraph (b) applies—to the Exchange; or
     (b) if there are 2 or more participating exchanges:
        (i) to a specified participating exchange; or
        (ii) to 2 or more specified participating exchanges in specified proportions.
"(2) Where there are 2 or more participating exchanges, a determination under subsection (1) shall be just and equitable having regard, in relation to each participating exchange, to:
     (a) the amounts that have been paid into the Fund and that are attributable to, or to members or member organisations of, that participating exchange; and
     (b) the amounts that have been paid out of the Fund and that are so attributable.
"(3) Where a determination is made in accordance with this section, the amount specified in the determination shall be paid out of the Fund in accordance with the determination.
"(4) For the purposes of subsection (2), where:
     (a) money in the fidelity fund of a securities exchange or recognised securities exchange has been paid into the Fund under subsection 122zf (1); or
     (b) property of the fidelity fund of a securities exchange or recognised securities exchange (other than money in that fidelity fund) has vested in the Corporation, and become part of the Fund, by virtue of subsection 122zf (2);
the amount of that money shall be taken, or an amount equal to the