Authorised Deposit-taking Institutions Supervisory Levy Imposition Determination 2005

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Authorised Deposit-taking Institutions Supervisory Levy Imposition Determination 2005
I, MAL BROUGH, Minister for Revenue and Assistant Treasurer, make this Determination under subsection 7 (3) of the Authorised Deposit-taking Institutions Supervisory Levy Imposition Act 1998. Dated 23 June 2005 MAL BROUGH Minister for Revenue and Assistant Treasurer
Contents                         1     Name of Determination                                                                         2                         2     Commencement                                                                                  2                         3     Revocation of Authorised Deposit-taking Institutions Supervisory Levy Imposition Determination 2004                                                                                                   2                         4     Interpretation                                                                                       2                         5     Amount of levy (Act s 7)                                                                       3                         6     Asset value — ADI other than a specialist credit card institution (Act s 7) 3                         7     Asset value — specialist credit card institution (Act s 7)                         4  
      1              Name of Determination                 This Determination is the Authorised Deposit-taking Institutions Supervisory Levy Imposition Determination 2005. 2              Commencement                 This Determination commences on 1 July 2005. 3              Revocation of Authorised Deposit-taking Institutions Supervisory Levy Imposition Determination 2004                 The Authorised Deposit-taking Institutions Supervisory Levy Imposition Determination 2004 is revoked. 4              Interpretation          (1)   In this Determination: 2005–2006 financial year means the financial year beginning on 1 July 2005. Act means the Authorised Deposit-taking Institutions Supervisory Levy Imposition Act 1998. bank has the same meaning as in Reporting Standard ARS 320.0. foreign ADI has the same meaning as in the Banking Act 1959. Form ARF 320.0 means Form ARF 320.0 which was made for the purposes of Reporting Standard ARS 320.0. Form ARF 323.0 means Form ARF 323.0 which was made for the purposes of Reporting Standard ARS 323.0. reporting period means:                 (a)    in relation to an ADI mentioned in subsection 6 (2) — the reporting period that applies to the ADI under paragraph 3 or 4 of Reporting Standard ARS 320.0; and                (b)    in relation to an ADI mentioned in subsection 6 (3) or 7 (2) — the reporting period that applies to the ADI under paragraph 3, 4 or 5 of Reporting Standard ARS 323.0. Reporting Standard ARS 320.0 means Reporting Standard ARS 320.0 Statement of Financial Position (Domestic Books) made under section 13 of the Financial Sector (Collection of Data) Act 2001. Reporting Standard ARS 323.0 means Reporting Standard ARS 323.0 Statement of Financial Position (Licensed ADI) made under section 13 of the Financial Sector (Collection of Data) Act 2001. specialist credit card institution means an ADI that engages in credit card issuing or credit card acquiring, or both, and does not otherwise carry on banking business within the meaning of section 5 of the Banking Act 1959. special service provider has the same meaning as in Reporting Standard ARS 320.0. valuation day, in relation to an ADI, means:                 (a)    if the ADI was an ADI at all times during the period from 17 March 2005 to 30 June 2005 — 31 March 2005; and                (b)    if the ADI was not an ADI at all times during the period from 17 March 2005 to 30 June 2005 — the day, after 17 March 2005, on which it became an ADI.          (2)   In this Determination, a reference to a period from a specified date to another specified date is a reference to a period that includes both of those dates. 5              Amount of levy (Act s 7)                 For paragraphs 7 (3) (a), (b), (c) and (ca) of the Act, the table sets out matters for the 2005–2006 financial year:  
Item
ADI
Maximum restricted levy amount
$
Minimum restricted levy amount
$
Restricted levy percentage
Unrestricted levy percentage
1
Foreign ADI
700 000
470
0.00245
0.000507
2
Specialist credit card institution
700 000
470
0.00245
0.000507
3
ADI not mentioned in items 1 and 2
1 400 000
470
0.00490
0.000507
6              Asset value — ADI other than a specialist credit card institution (Act s 7)          (1)   For paragraph 7 (3) (d) of the Act, the asset value of an ADI, other than a specialist credit card institution, is to be worked out using subsections (2) to (5).          (2)   If the ADI:                 (a)    was an ADI at all times from 17 March 2005 to 30 June 2005; and                (b)    was required to lodge Form ARF 320.0 for a reporting period ending during the period from 17 March 2005 to 14 April 2005; then the ADI’s asset value is the sum of the amounts required to be reported in the following items in that Form:                 (c)    TOTAL ASSETS;                (d)    AUSTRALIAN ADI OPERATIONS: TOTAL AMOUNTS DUE FROM NON-RESIDENTS (EXCLUDING INTRA-COMPANY TRANSACTIONS);                 (e)    AUSTRALIAN ADI OPERATIONS: TOTAL AMOUNT DUE FROM OVERSEAS OPERATIONS OF THE ADI.          (3)   If the ADI:                 (a)    was an ADI at all times from 17 March 2005 to 30 June 2005; and                (b)    was required to lodge Form ARF 323.0 for a reporting period ending during the period from 17 March 2005 to 14 April 2005; then the ADI’s asset value is the amount required to be reported in the item TOTAL ASSETS in that Form.          (4)   If:                 (a)    neither subsection (2) nor (3) applies to the ADI; and                (b)    the ADI was a bank or special service provider on the valuation day; then the ADI’s asset value is the sum of the values of the following assets of the ADI as at the valuation day, with the values of those assets being worked out in the same way as for the corresponding items in Form ARF 320.0:                 (c)    TOTAL ASSETS;                (d)    AUSTRALIAN ADI OPERATIONS: TOTAL AMOUNTS DUE FROM NON-RESIDENTS (EXCLUDING INTRA-COMPANY TRANSACTIONS).          (5)   If:                 (a)    neither subsection (2) nor (3) applies to the ADI; and                (b)    the ADI was not a bank or special service provider on the valuation day; then the ADI’s asset value is the value of the ADI’s assets as at the valuation day, worked out in the same way as for item 11 TOTAL ASSETS in Form ARF 323.0. 7              Asset value — specialist credit card institution (Act s 7)          (1)   For paragraph 7 (3) (d) of the Act, the asset value of a specialist credit card institution is to be worked out using subsections (2) and (3).          (2)   If the specialist credit card institution:                 (a)    was an ADI at all times from 17 March 2005 to 30 June 2005; and                (b)    was required to lodge Form ARF 323.0 for a reporting period ending during the period from 17 March 2005 to 14 April 2005; then the specialist credit card institution’s asset value is the sum of the amounts required to be reported in the following subitems in that Form:                 (c)    6.1.3 CREDIT CARDS (under item 6.1 LOANS TO HOUSEHOLDS);                (d)    6.2.5.2 OF WHICH CREDIT CARDS (under item 6.2 COMMERCIAL LENDING and subitem 6.2.5 TOTAL COMMERCIAL LENDING).          (3)   If subitem (1) does not apply to the specialist credit card institution, the specialist credit card institution’s asset value is the sum of the values of the household credit card loan assets and the commercial credit card loan assets of the specialist credit card institution as at the valuation day, with the values of those assets being worked out in the same way as for the following subitems in Form ARF 323.0:                 (a)    6.1.3 CREDIT CARDS (under item 6.1 LOANS TO HOUSEHOLDS);                (b)    6.2.5.2 OF WHICH CREDIT CARDS (under item 6.2 COMMERCIAL LENDING and subitem 6.2.5 TOTAL COMMERCIAL LENDING).
 

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