Corporations Regulations 2001
CHAPTER 7
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FINANCIAL SERVICES AND MARKETS
PART 7.10B
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FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT
REGULATION 7.10B.50
7.10B.50
REPORTING BY CSLR OPERATOR IF SUB-SECTOR LEVY CAP COULD BE EXCEEDED (OR FURTHER EXCEEDED)
For the purposes of subsection 1069F(4) of the Act, the following information is prescribed for a notice about a revised claims, fees and costs estimate for a levy period and a sub-sector that has come into force and could cause the sub-sector levy cap for the levy period and sub-sector to be exceeded (or further exceeded): (a) the number of applications made under section 1066 of the Act that underpin the revised estimate; (b) the total amount of compensation that (having regard to actuarial principles) will be payable under section 1063 of the Act for those applications; (c) the portion of the sum of AFCA ' s unpaid fees that (having regard to actuarial principles) will be attributable to the sub-sector and that underpins the revised estimate.
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
For the purposes of subsection 1069F(4) of the Act, the following information is prescribed for a notice about a revised claims, fees and costs estimate for a levy period and a sub-sector that has come into force and could cause the sub-sector levy cap for the levy period and sub-sector to be exceeded (or further exceeded): (a) the number of applications made under section 1066 of the Act that underpin the revised estimate; (b) the total amount of compensation that (having regard to actuarial principles) will be payable under section 1063 of the Act for those applications; (c) the portion of the sum of AFCA ' s unpaid fees that (having regard to actuarial principles) will be attributable to the sub-sector and that underpins the revised estimate.
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