Federal Register of Legislation - Australian Government

Primary content

Act No. 116 of 1989 as made
An Act to impose a levy on members and member organisations of certain securities exchanges
Date of Assent 14 Jul 1989
Date of repeal 01 Jan 1991
Repealed by Corporations Legislation Amendment Act 1990
Repealing Comments This Act was repealed by Act No. 110 of 1990 before it commenced.
 

NATIONAL GURANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - LONG TITLE

An Act to impose a levy on members and member organisations
of certain securities exchanges

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - SECT 1
Short title

(Assented to 14 July 1989)
1. This Act may be cited as the National Guarantee Fund (Members of Participating Exchanges) Levy Act 1989.

(Minister's second reading speech made in-
House of Representatives on 25 May 1988
Senate on 14 October 1988)

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - SECT 2
Commencement

2. This Act commences on the same day as Part 7.10 of the Corporations Act 1989.

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - SECT 3
Incorporation

3. The Corporations Act 1989 is incorporated, and shall be read as one, with this Act, and shall be so read as if the provisions of this Act were provisions of Division 4 of Part 7.10 of that Act.

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - SECT 4
Imposition of levy

4. Any levy that is payable by a member, or a member organisation, of a participating exchange under section 941 of the Corporations Act 1989 is imposed by this Act.

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - SECT 5
Rate of levy

5. (1) The levy is payable at such rate or rates (not exceeding the prescribed rate) as are determined in writing by the participating exchange.

(2) The participating exchange may determine under subsection (1) different rates of levy in respect of different classes of members, or different classes of member organisations, of the participating exchange.

NATIONAL GUARANTEE FUND (MEMBERS OF PARTICIPATING EXCHANGES) LEVY ACT 1989 No. 116, 1989 - SECT 6
Regulations

6. (1) The Governor-General may make regulations prescribing a maximum rate or maximum rates in relation to participating exchanges, or a particular participating exchange, for the purposes of section 5.

(2) The regulations may prescribe different maximum rates in relation to different classes of members, or different classes of member organisations, of a participating exchange.