2004
   The Parliament of the
   Commonwealth of Australia
   HOUSE OF REPRESENTATIVES
   Presented and read a first time
   Financial Institutions Supervisory Levies Collection Amendment Bill
   2004
   No. , 2004
   (Treasury)
   A Bill for an Act to amend the Financial Institutions Supervisory
   Levies Collection Act 1998, and for related purposes

   Contents

   A Bill for an Act to amend the Financial Institutions Supervisory
   Levies Collection Act 1998, and for related purposes

   The Parliament of Australia enacts:

      1 Short title

   This Act may be cited as the Financial Institutions Supervisory Levies
   Collection Amendment Act 2004.

      2 Commencement

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

      3 Schedule(s)

   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   repealed as set out in the applicable items in the Schedule concerned,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.

        Schedule 1--Amendment of the Financial Institutions Supervisory Levies
        Collection Act 1998

   1 Section 7 (definition of authorised NOHC)

   Repeal the definition, substitute:

   authorised NOHC means an authorised NOHC within the meaning of either:

   (a) the Banking Act 1959; or

   (b) the Insurance Act 1973.

   Note: NOHC is short for non-operating holding company.

   2 Application

   The amendment made by this Schedule applies in relation to levy payable
   for:

   (a) the financial year commencing on 1 July 2005; and

   (b) each succeeding financial year.