Commonwealth Consolidated Acts

FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY (COLLECTION) ACT 2023 - SECT 18

  (1)   ASIC may, on behalf of the Commonwealth, waive the payment of the whole or a part of one or more of the following amounts payable by a person, if ASIC is satisfied that there are exceptional circumstances justifying the waiver:

    (a)   an instalment of levy;

  (b)   late payment penalty;

  (c)   shortfall penalty.

  (2)   ASIC may do so on its own initiative or on written application by a person.

  (3)   Applications must be in the approved form.