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.