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Financial Services Compensation Scheme of Last Resort Levy Act 2023
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Department of the Treasury
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C2023C00413 (C01)
20 October 2023
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Part 1—Preliminary
1 Short title
2 Commencement
3 Act to bind Crown
4 Extension to external Territories
5 Extra territorial application
6 Act does not impose levy on property of a State
7 Definitions
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Part 2—Levy
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Division 1—Imposition of levy
8 Imposition of levy—main cases
9 Imposition of special levy—revised estimate of claims, fees and costs exceeds the sub sector levy cap and is to be spread across several sub sectors etc.
10 Imposition of levy—unpaid claims, and AFCA’s unpaid fees, for complaints given to AFCA before the accumulation recovery day
11 By whom levy payable
Division 2—Amount of levy
12 Amount of annual levy
13 Amount of further levy—total levy does not exceed the sub sector levy cap
14 Amount of special levy—total levy exceeds the sub sector levy cap
15 Amount of special levy—total levy exceeds the sub sector levy cap and is to be spread across several sub sectors etc.
16 Amount of levy for unpaid claims, and AFCA’s unpaid fees, for complaints given to AFCA before the accumulation recovery day
Division 3—Caps on levy
17 Total caps on levy
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Part 3—Other matters
18 Treatment of partnerships, unincorporated associations and multiple trustees
19 Regulations
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Endnotes
Endnote 1—About the endnotes
Endnote 2—Abbreviation key
Endnote 3—Legislation history
Endnote 4—Amendment history