Federal Register of Legislation - Australian Government

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Act No. 4 of 1992 as made
An Act to amend the General Insurance Supervisory Levy Act 1989, and for related purposes
Date of Assent 06 Jan 1992
Date of repeal 10 Mar 2016
Repealed by Amending Acts 1990 to 1999 Repeal Act 2016
 

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4, 1992

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4 of 1992 - LONG TITLE

An Act to amend the General Insurance Supervisory Levy Act 1989,
and for related purposes

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4 of 1992 - SECT 1
Short title etc.

(Assented to 6 January 1992)
1. (1) This Act may be cited as the General Insurance Supervisory Levy Amendment Act 1991.
(2) In this Act, "Principal Act" means the General Insurance Supervisory Levy Act 1989.*1*

(Minister's second reading speech made in-
House of Representatives on 6 June 1991
Senate on 21 August 1991)
*1* No. 17, 1989.

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4 of 1992 - SECT 2
Commencement

2. This Act commences on the day on which it receives the Royal Assent.

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4 of 1992 - SECT 3
Interpretation

3. Section 6 of the Principal Act is amended by inserting after paragraph (a) of the definition of "statutory upper limit" the following paragraph:
"(aa) in relation to the financial year commencing on 1 July 1991 - $15,000; or".

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4 of 1992 - SECT 4
Daily component of general insurance levy

4. Section 9 of the Principal Act is amended by omitting from subsection (1) "$11,000" and substituting "$13,000".

GENERAL INSURANCE SUPERVISORY LEVY AMENDMENT ACT 1991 No. 4 of 1992 - SECT 5
Application of amendment - section 9 of the Principal Act

5. (1) The amendment made by section 4 applies in relation to leviable days after 30 June 1991.
(2) Regulations made for the purposes of the formula in subsection 9 (1) of the Principal Act have no effect to the extent to which they relate to leviable days in the financial year commencing on 1 July 1991.