Superannuation Supervisory Levy Determination Validation Act 2000

Overview

The Superannuation Supervisory Levy Determination Validation Act 2000 was enacted by the Parliament of Australia to address a specific issue regarding the validity of a determination made under the Superannuation Supervisory Levy Imposition Act 1998. The primary aim of the Act was to validate a determination that was purportedly made on 11 August 1998 and notified in the Gazette on 13 August 1998, despite potential conflicts with other legislative provisions. This Act ensures that the determination is recognised as having been made under the appropriate subsection and having been effective from 1 July 1998, notwithstanding subsection 12(2) of the Legislative Instruments Act 2003. The Act also allows for the determination to be repealed, rescinded, revoked, amended, or varied according to the provisions of the Acts Interpretation Act 1901. The Superannuation Supervisory Levy Determination Validation Act 2000 was repealed by the Financial Sector Legislation Amendment (Simplifying Regulation and Review) Act 2007, effective from 27 July 2010.

Scope and Application

The Superannuation Supervisory Levy Determination Validation Act 2000, which was repealed on 27 July 2010, pertains to the validation of a specific determination made under the Superannuation Supervisory Levy Imposition Act 1998. This Act applies to a determination that was made on 11 August 1998 and notified in the Gazette on 13 August 1998, ensuring that it is recognised as having been made under the relevant subsection of the Imposition Act and effective from 1 July 1998. Despite certain subsections of the Legislative Instruments Act 2003, the Act mandates that this determination is considered valid and enforceable from the specified date. Furthermore, the Act allows for the determination to be repealed, rescinded, revoked, amended, or varied in accordance with the provisions of the Acts Interpretation Act 1901. The geographic and jurisdictional reach of this Act is limited to validating the particular determination within the scope of the Commonwealth of Australia. No explicit exclusions, exemptions, or thresholds are mentioned within the text of the Act itself; however, the application is strictly tied to the specific determination referenced.

Key Provisions

The Superannuation Supervisory Levy Determination Validation Act 2000 (C2004A00610) primarily deals with validating a specific determination made under the Superannuation Supervisory Levy Imposition Act 1998. Section 4 of the Act (4) applies to a determination made on 11 August 1998 and notified in the Gazette on 13 August 1998, validating it despite any contrary provisions in the Legislative Instruments Act 2003. This determination is considered to have been made under subsection 7(3) of the Imposition Act and to be effective from 1 July 1998 onwards. However, this determination can still be repealed, rescinded, revoked, amended, or varied under subsection 33(3) of the Acts Interpretation Act 1901. The Act imposes obligations on the relevant parties to ensure that the determination in question is recognised as valid and effective. It requires adherence to the provisions set out in the Imposition Act while also allowing for its amendment or repeal under certain conditions. The Act also specifies the commencement date of its operation, which aligns with the commencement of Part 1 of Schedule 12 to the Financial Sector Reform (Amendments and Transitional Provisions) Act (No. 1) 2000. In terms of legal consequences, breaches of the provisions under this Act could lead to various civil or criminal penalties, depending on the nature and severity of the breach. However, the specific offences, penalties, or consequences are not detailed in the provided text. It is important to refer to the relevant sections of the Imposition Act and other applicable laws to determine the exact penalties for any breaches. The Act was repealed by Act No. 82 of 2010, and any subsequent amendments or transitional provisions would need to be considered in light of this repeal.