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This is a Bill, not an Act. For current law, see the Acts databases.
2019-2020
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Authorised Deposit-taking Institutions
Supervisory Levy Imposition
Amendment Bill 2020
No. , 2020
(Treasury)
A Bill for an Act to amend the
Authorised
Deposit-taking Institutions Supervisory Levy
Imposition Act 1998
, and for related purposes
No. , 2020
Authorised Deposit-taking Institutions Supervisory Levy Imposition
Amendment Bill 2020
i
Contents
1
Short title ........................................................................................... 1
2
Commencement ................................................................................. 1
3
Schedules ........................................................................................... 2
Schedule 1--Amendments
3
Authorised Deposit-taking Institutions Supervisory Levy Imposition
Act 1998
3
No. , 2020
Authorised Deposit-taking Institutions Supervisory Levy Imposition
Amendment Bill 2020
1
A Bill for an Act to amend the
Authorised
1
Deposit-taking Institutions Supervisory Levy
2
Imposition Act 1998
, and for related purposes
3
The Parliament of Australia enacts:
4
1 Short title
5
This Act is the
Authorised Deposit-taking Institutions Supervisory
6
Levy Imposition Amendment Act 2020
.
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2 Commencement
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(1) Each provision of this Act specified in column 1 of the table
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commences, or is taken to have commenced, in accordance with
10
column 2 of the table. Any other statement in column 2 has effect
11
according to its terms.
12
2
Authorised Deposit-taking Institutions Supervisory Levy Imposition
Amendment Bill 2020
No. , 2020
1
Commencement information
Column 1
Column 2
Column 3
Provisions
Commencement
Date/Details
1. The whole of
this Act
The day after this Act receives the Royal
Assent.
Note:
This table relates only to the provisions of this Act as originally
2
enacted. It will not be amended to deal with any later amendments of
3
this Act.
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(2) Any information in column 3 of the table is not part of this Act.
5
Information may be inserted in this column, or information in it
6
may be edited, in any published version of this Act.
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3 Schedules
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Legislation that is specified in a Schedule to this Act is amended or
9
repealed as set out in the applicable items in the Schedule
10
concerned, and any other item in a Schedule to this Act has effect
11
according to its terms.
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Amendments
Schedule 1
No. , 2020
Authorised Deposit-taking Institutions Supervisory Levy Imposition
Amendment Bill 2020
3
Schedule 1--Amendments
1
2
Authorised Deposit-taking Institutions Supervisory Levy
3
Imposition Act 1998
4
1 Section 5 (paragraph (a) of the definition of
statutory upper
5
limit
)
6
Repeal the paragraph, substitute:
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(a) for the financial year commencing on 1 July 2020--
8
$10,000,000; or
9
2 Section 5 (paragraph (b) of the definition of
statutory upper
10
limit
)
11
Omit "in relation to", substitute "for".
12
3 Subsection 7(4)
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Omit "maximum restricted levy amount must not exceed the statutory
14
upper limit as at the time when the determination is made", substitute
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"maximum restricted levy amount for a financial year must not exceed
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the statutory upper limit for the financial year".
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4 Subsection 8(1)
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Repeal the subsection, substitute:
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(1) The indexation factor for a financial year is the number worked out
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by:
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(a) ascertaining the index number for the most recent quarter for
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which the Australian Statistician has published an index
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number, as at the start of the day on which the Treasurer
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makes the first determination under subsection 7(3) of an
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amount or percentage for the financial year; and
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(b) dividing that index number by the index number for the
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quarter 12 months before the quarter mentioned in
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paragraph (a); and
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(c) adding 0.030 to the number worked out under paragraph (b).
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Schedule 1
Amendments
4
Authorised Deposit-taking Institutions Supervisory Levy Imposition
Amendment Bill 2020
No. , 2020
5 Subsection 8(3)
1
Omit "paragraph (1)(a)", substitute "subsection (1)".
2
6 Application of amendments
3
The amendments made by this Schedule apply in relation to a
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determination under subsection 7(3) of the
Authorised Deposit-taking
5
Institutions Supervisory Levy Imposition Act 1998
that is made on or
6
after the commencement of this Act.
7