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FINANCIAL INSTITUTIONS SUPERVISORY LEVIES COLLECTION ACT 1998 - SECT 7

Definitions

                   In this Part, unless the contrary intention appears:

"ADI" has the same meaning as in the Banking Act 1959 .

Note:          ADI is short for authorised deposit‑taking institution.

"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.

"business day" means a day that is not a Saturday, a Sunday, a public holiday or a bank holiday in the place concerned.

"general insurance company" means a body corporate that is authorised under the Insurance Act 1973 to carry on insurance business within the meaning of that Act.

"late payment penalty" means penalty payable under section 10.

"leviable body" means any of the following types of bodies:

                     (a)  an ADI;

                     (b)  an authorised NOHC;

                     (c)  a life insurance company;

                     (d)  a general insurance company;

                     (e)  an RSA provider;

                      (f)  a superannuation entity;

                     (g)  a leviable FHSA entity.

"leviable FHSA entity" has the same meaning as in the First Home Saver Account Providers Supervisory Levy Imposition Act 2008 .

"levy" means:

                     (a)  in respect of a leviable body that is an ADI--levy imposed by the Authorised Deposit‑taking Institutions Supervisory Levy Imposition Act 1998 ; or

                     (b)  in respect of a leviable body that is an authorised NOHC--levy imposed by the Authorised Non‑operating Holding Companies Supervisory Levy Imposition Act 1998 ; or

                     (c)  in respect of a leviable body that is a life insurance company--levy imposed by the Life Insurance Supervisory Levy Imposition Act 1998 ; or

                     (d)  in respect of a leviable body that is a general insurance company--levy imposed by the General Insurance Supervisory Levy Imposition Act 1998 ; or

                     (e)  in respect of a leviable body that is an RSA provider--levy imposed by the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998 ; or

                      (f)  in respect of a leviable body that is a superannuation entity--levy imposed by the Superannuation Supervisory Levy Imposition Act 1998 ; or

                     (g)  in respect of a leviable body that is a leviable FHSA entity--levy imposed by the First Home Saver Account Providers Supervisory Levy Imposition Act 2008 .

"levy imposition day" , in relation to the imposition of a levy in respect of a leviable body of a particular type for a financial year, means:

                     (a)  if the leviable body is that type of leviable body on 1 July of the financial year--that day; or

                     (b)  if the leviable body becomes that type of leviable body on a day during the financial year that is after 1 July of the financial year--the day, during the financial year, on which the leviable body becomes that type of leviable body.

"levy paying entity" means:

                     (a)  a leviable body, other than a superannuation entity; or

                     (b)  the trustee of a superannuation entity.

"life insurance company" means a company that is registered under the Life Insurance Act 1995 .

"RSA provider" has the same meaning as in the Retirement Savings Accounts Act 1997 .

"superannuation entity" means an entity that:

                     (a)  is a superannuation entity within the meaning of the Superannuation Industry (Supervision) Act 1993 ; and

                     (b)  is not a self managed superannuation fund within the meaning of that Act.

"trustee" , in relation to a superannuation entity, means the person who is the trustee of the entity for the purposes of the Superannuation Industry (Supervision) Act 1993 .



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