(1) An industry board must, for each financial year, fix a rate that is to be applied as the industry levy rate under this Act.
(2) The industry board must:
(a) fix the rate before the beginning of the financial year to which it relates; and
(b) ensure that the rate is published on the Agency's website and in the Gazette .
(3) The rate fixed by an industry board must be based on actuarial advice received by the board under Part 6.