Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) In this Act:
accumulation recovery day has the same meaning as in the Corporations Act 2001 "."
"AFCA" (short for the Australian Financial Complaints Authority) has the same meaning as in the Corporations Act 2001 .
"AFCA's accumulated unpaid fees" has the same meaning as in the Corporations Act 2001 .
"AFCA scheme" has the same meaning as in the Corporations Act 2001 .
"AFCA's unpaid fees" has the same meaning as in the Corporations Act 2001 .
"amount" includes a nil amount.
"ASIC" means the Australian Securities and Investments Commission.
"body regulated by APRA" has the same meaning as in the Australian Prudential Regulation Authority Act 1998 .
"claims, fees and costs estimate" means:
(a) an initial claims, fees and costs estimate; or
(b) a revised claims, fees and costs estimate.
"Commissioner" means the Commissioner of Taxation.
"first levy period" means the period that:
(a) starts on the day specified in a determination in force under subsection (2); and
(b) ends on 30 June 2024.
"income year" has the same meaning as in the Income Tax Assessment Act 1997 .
"initial claims, fees and costs estimate" , for a levy period and a sub - sector, means an estimate determined under subsection 9(1) of the Levy Collection Act for the levy period and the sub - sector.
levy means levy imposed by this Act (see Division " " 1 of Part 2).
"Levy Collection Act" means the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023 .
"levy period" means:
(a) the first levy period; or
(b) a financial year starting after the end of the first levy period.
person has a meaning affected by section " " 18.
"qualifying period" , for a levy period, means the 12 - month period starting 24 months before the start of the levy period.
"revised claims, fees and costs estimate" , for a levy period and a sub - sector, means a revised estimate determined under subsection 10(1) of the Levy Collection Act for the levy period and the sub - sector.
scheme levy cap means the cap specified in subsection " " 17(1).
"sub-sector" has the same meaning as in the ASIC Supervisory Cost Recovery Levy Act 2017 .
Note: A person may form part of more than one sub - sector.
sub-sector levy cap ", for a levy period and a sub" - sector, means the cap worked out under subsection 17(2) for the levy period and the sub - sector.
(2) The Minister may, by notifiable instrument, determine a specified day to be the day that the first levy period starts (which must not be before the day the determination commences).