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FINANCIAL INSTITUTIONS SUPERVISORY LEVIES COLLECTION ACT 1998 - SECT 9

When levy due for payment

  (1)   Levy payable by a leviable body for a financial year (other than levy payable under subsection   8(4A) or (6)) is due and payable on:

  (a)   if the levy imposition day relating to the levy payable by the leviable body is 1   July of the financial year--a business day that is:

  (i)   specified in a notice given to the leviable body by APRA in relation to the financial year; and

  (ii)   is not earlier than 28 days after the day on which the notice is given; or

  (b)   if the levy imposition day relating to the levy payable by the leviable body is a day of that financial year after 1   July--by:

  (i)   the day that is 6 weeks after the day on which the leviable body becomes that type of leviable body; or

  (ii)   if the day applicable under subparagraph   (i) is not a business day, the first business day following that day.

  (2)   Levy payable under subsection   8(6) for a financial year by a trustee of a superannuation entity is due and payable:

  (a)   if the entity is a superannuation entity on 1   July of the financial year and became a superannuation entity before that day--on a business day that:

  (i)   is specified in a notice given by APRA to the trustee on or after the day on which an annual return that is a reporting document under section   13 of the Financial Sector (Collection of Data) Act 2001 and that relates to the previous financial year was received by APRA; and

  (ii)   is not earlier than 6 weeks after the day on which the notice is given; or

  (b)   if the entity becomes a superannuation entity on or after 1   July of the financial year--on a business day that:

  (i)   is specified in a notice given by APRA to the trustee; and

  (ii)   is not earlier than 6 weeks after the day on which the notice is given.

  (3)   Levy payable by a private health insurer for a quarter under subsection   8(4A) is payable on the 14th day after the liability day for the quarter.

Note:   For the meaning of quarter and liability day , see subsection   8(4B).



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