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This is a Bill, not an Act. For current law, see the Acts databases.
1996
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
General
Insurance Supervisory Levy Amendment Bill
1996
No. ,
1996
(Treasury)
A Bill
for an Act to amend the General Insurance Supervisory Levy Act 1989, and
for related purposes
9617720—1,055/19.11.1996—(177/96) Cat. No.
96 5514 X ISBN 0644 481846
Contents
A Bill for an Act to amend the General Insurance
Supervisory Levy Act 1989, and for related purposes
The Parliament of Australia enacts:
This Act may be cited as the General Insurance Supervisory Levy
Amendment Act 1996.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
1 Section 6 (paragraph (d) of the definition of
statutory upper limit)
Repeal the paragraph, substitute:
(d) in relation to each following financial year (the relevant
financial year) before the financial year commencing on 1 July
1997¾the amount calculated by multiplying the
statutory upper limit for the financial year immediately preceding the relevant
financial year by the indexation factor for the relevant financial year;
or
(e) in relation to the financial year commencing on 1 July 1997¾$35,000; or
(f) in relation to a later financial year¾the amount calculated by multiplying the statutory
upper limit for the previous financial year by the indexation factor for the
later financial year.