CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001 

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001 
- TABLE OF PROVISIONS

1.   Short title [see Note 1]    
2.   Commencement [see Note 1]    
3.   Definitions    
4.   Imposition of levies in respect of compensation arrangements for  financial services markets   
5.   Amount of levy    
6.   Transitional matters--implementation of the Corporations Act  2001   

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001

- LONG TITLE

An Act to impose levies in respect of compensation
arrangements for financial services markets, and for related purposes

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001
- SECT 1   Short title [see Note 1] 

 
        This Act may be cited as the Corporations (Compensation Arrangements
Levies) Act 2001.

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001
- SECT 2   Commencement [see Note 1] 

 
        This Act commences on the commencement of item 1 of Schedule 1 to
the Financial Services Reform Act 2001.

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001
- SECT 3   Definitions 

 
        Expressions used in this Act that are defined in a provision of the
Corporations Act 2001 that applies for the purposes of Division 3
of Part 7.5 of that Act (whether or not it also applies for other
purposes) have the same meanings in this Act as they are given by that provision.

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001
- SECT 4   Imposition of levies in respect of compensation arrangements for  financial services markets

        Any levy that is payable under section 883D of the Corporations Act
2001 is imposed by this Act.

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001
- SECT 5   Amount of levy 

 
        Compensation rules referred to in subsection 883D(1) of the Corporations
Act 2001 must specify, or specify a method for determining, the amount of
levy that is to be payable. The amount of levy imposed by section 4 of
this Act in a particular situation is the amount specified in, or worked out in
accordance with the method specified in, the compensation rules.

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001
- SECT 6   Transitional matters--implementation of the Corporations Act  2001

        If, immediately before the commencement of this Act:

        (a)  an amount of levy was payable to a securities exchange as agent for the
Commonwealth under subsection 8(3) or (4) of the Corporations (Securities
Exchanges Levies) Act 2001; or
        (b)  an amount of levy was payable to a futures organisation as agent for the
Commonwealth under subsection 6(1) or (2) of the Corporations (Futures
Organisations Levies) Act 2001;

then, on the commencement of this Act, that levy becomes payable, by force
of this section, to the operator of the financial market that was that
securities exchange or futures organisation (as the case may be), as agent for
the Commonwealth.

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001

- NOTES

Compilation Information

Corporations (Compensation Arrangements Levies) Act
2001
Act No. 106 of 2001
This compilation was prepared on 11 March 2002
Prepared by the Office of Legislative Drafting,Attorney-General's
Department, Canberra
  
  
  

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001

- NOTES

CORPORATIONS (COMPENSATION ARRANGEMENTS LEVIES) ACT 2001Notes to the Corporations (Compensation Arrangements Levies) Act 2001

Note 1
The Corporations (Compensation Arrangements Levies) Act 2001 as shown
in this compilation comprises Act No. 106, 2001 amended as indicated in the
Tables below.
Table of Acts

Act

Number
and year

Date
of Assent

Date
of commencement

Application,
saving or transitional provisions

Corporations
(Compensation Arrangements Levies) Act 2001

106,
2001

17
Sept 2001

11
Mar 2002 (see s. 2 and Gazette 2001, No. GN42)