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Second Reading Speeches

General Insurance Supervisory Levy Imposition Amendment Bill 2004

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Not Proceeding
Parliament no
40

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Summary

Part of a package of seven bills to implement changes to the financial sector levy setting framework, the bill amends the

General Insurance Supervisory Levy Imposition Act 1998
to: separate the authorised general insurance supervisory levy into a restricted and an unrestricted component; increase the statutory upper limit for the restricted levy component set for the 2005-06 financial year; and alter the calculation of the indexation factor used to establish the statutory upper limits applying in later financial years. Also contains an application provision.