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Retirement Savings Account Providers Supervisory Levy Determination Validation Bill 1999

1998-99

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

Retirement Savings Account Providers Supervisory Levy Determination Validation Bill 1999

 

No.      , 1999

 

(Treasury)

 

 

 

A Bill for an Act to validate a determination made under the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998

   

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Definition............................................................................................ 2

4............ Validity of determination..................................................................... 2

 



A Bill for an Act to validate a determination made under the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Retirement Savings Account Providers Supervisory Levy Determination Validation Act 1999 .

2   Commencement

                   This Act commences on the commencement of Part 1 of Schedule 12 to the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 2) 1999 .

3   Definition

                   In this Act:

Imposition Act means the Retirement Savings Account Providers Supervisory Levy Imposition Act 1998 .

4   Validity of determination

             (1)  This section applies to a determination that was purportedly made under subsection 8(3) of the Imposition Act on 11 August 1998, and was notified in the Gazette on 13 August 1998.

             (2)  The determination is taken, despite subsection 48(2) of the Acts Interpretation Act 1901 :

                     (a)  to have been made under subsection 7(3) of the Imposition Act; and

                     (b)  to have been effective on and at all times after 1 July 1998.

             (3)  Despite paragraph (2)(b), the determination may be repealed, rescinded, revoked, amended or varied in accordance with subsection 33(3) of the Acts Interpretation Act 1901 .