Document ID: chunk:federal_register_of_legislation:C2004A01154:clause:1_83g
Version: federal_register_of_legislation:C2004A01154
Segment Type: clause
Provision Reference: sch 1 cl 83G
Character Range: 14269–16228

83G  Waiver of collapsed organization levy and late payment penalty in respect of that levy

 (1) If a collapsed organization levy amount is payable by a registered health benefits organization, the organization may apply for a waiver under this section.

 (2) The application must be in writing and in the prescribed form.

 (3) The Minister may waive the whole or a part of the collapsed organization levy amount if satisfied that the payment of the amount by the organization would have a significantly adverse affect on the organization's ability to comply with:
 (a) the solvency requirements; or
 (b) the capital adequacy requirements.

 (4) Before making a decision under subsection (3), the Minister must obtain, and take into account, advice from the Council as to whether to waive the collapsed organization levy amount.

 (5) The Minister must notify the organization of the Minister's decision under subsection (3).

 (6) The notification must be:
 (a) in writing; and
 (b) given to the organization within 28 days after the day on which the decision under subsection (3) is made.

 (7) In this section:

capital adequacy requirements means:
 (a) the capital adequacy standard that a registered health benefits organization is required to comply with under section 73BCI; and
 (b) any capital adequacy directions given to the organization under section 73BCJ.

capital adequacy standard means a capital adequacy standard established by the Council under section 73BCG for the purposes of Division 3B of Part VI.

solvency requirements means:
 (a) the solvency standard that a registered health benefits organization is required to comply with under section 73BCD; and
 (b) any solvency directions given to the organization under section 73BCE.

solvency standard means a solvency standard established by the Council under section 73BCB for the purposes of Division 3A of Part VI.

Division 3—Returns, requesting information and keeping records