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This is a Bill, not an Act. For current law, see the Acts databases.
1998-1999-2000-2001
The
Parliament of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Corporations
(National Guarantee Fund Levies) Amendment Bill
2001
No. ,
2001
(Treasury)
A Bill
for an Act to amend the Corporations (National Guarantee Fund Levies) Act
2001
ISBN: 0642 458022
Contents
A Bill for an Act to amend the Corporations (National
Guarantee Fund Levies) Act 2001
The Parliament of Australia enacts:
This Act may be cited as the Corporations (National Guarantee Fund
Levies) Amendment Act 2001.
This Act commences on the commencement of item 1 of Schedule 1
to the Financial Services Reform Act 2001.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
1 Section 3
Omit “Division 4 of Part 7.10”, substitute
“Division 4 of Part 7.5”.
2 Paragraphs 4(a), (b) and
(c)
Repeal the paragraphs, substitute:
(a) any levy that is payable under section 889J of the
Corporations Act 2001;
(b) any levy that is payable under section 889K of the
Corporations Act 2001.
3 Section 4
Omit “section 936”, substitute
“section 889I”.
4 Section 5
Repeal the section, substitute:
(1) A determination referred to in subsection 889J(1) of the
Corporations Act 2001 must specify, or specify a method for determining,
the amount of levy that is to be payable. The amount of levy imposed by
paragraph 4(a) of this Act in relation to the determination is the amount
specified in, or worked out in accordance with the method specified in, the
determination.
(2) A determination referred to in subsection 889K(1) of the
Corporations Act 2001 must specify, or specify a method for determining,
the amount of levy that is to be payable. The amount of levy imposed by
paragraph 4(b) of this Act in relation to the determination is the amount
specified in, or worked out in accordance with the method specified in, the
determination.
(3) Different amounts or methods may be specified in the same
determination (whether it is a determination referred to in subsection 889J(1)
or a determination referred to in subsection 889K(1)) in relation to different
classes of matters of things.
5 Subsections 6(1) and (3)
Omit “securities exchange as agent for the Commonwealth”,
substitute “operator of the financial market that was that securities
exchange as agent for the Commonwealth”.
6 Subsection 6(4)
Repeal the subsection.
Note: The heading to section 6 is altered by adding at
the end “—implementation of the Corporations Act
2001”.
7 At the end of the Act
Add:
A determination that, immediately before the commencement of item 1
of Schedule 1 to the Financial Services Reform Act 2001, had effect
(including because of subsection 6(4) of this Act as then in force) for the
purposes of subsection 5(1), (2) or (3) of this Act as then in force continues
to have effect (and may be dealt with) after that commencement as if it
were:
(a) if the determination had effect for the purposes of subsection 5(1) or
(2) of this Act as then in force—a determination for the purposes of
subsection 5(1) of this Act as in force after that commencement; or
(b) if the determination had effect for the purposes of subsection 5(3) of
this Act as then in force—a determination for the purposes of subsection
5(2) of this Act as in force after the commencement.