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Financial Institutions Supervisory Levies Collection Bill 1998

Part 1 Preliminary


1   Short title

                   This Act may be cited as the Financial Institutions Supervisory Levies Collection Act 1998 .

2   Commencement

                   This Act commences on the commencement of the Australian Prudential Regulation Authority Act 1998 .

3   Act binds the Crown

                   This Act binds the Crown in each of its capacities.

4   External Territories

                   This Act extends to each external Territory.

5   Application of Act to Lloyd’s

             (1)  This Act applies to Lloyd’s (within the meaning of section 3 of the Insurance Act 1973 ), at all times after the commencement of this Act, as if Lloyd’s were a body corporate authorised under that Act to carry on insurance business.

             (2)  Nothing in this Act makes any Lloyd’s underwriter liable to pay levy under this Act.

6   Definitions

                   In this Act, unless the contrary intention appears:

APRA means the Australian Prudential Regulation Authority.