Financial Sector and Deposit Insurance Levies Act, 2022 (Act No. 11 of 2022)Part A : Financial sector levy and special levy7. Apportionment |
| (1) | If a provision of this Act comes into operation after the commencement of a levy year or a levy period, a part of a levy year or a levy period must apply from the commencement of that provision to the end of the levy year or the levy period, as may be applicable. |
| (2) | Where a supervised entity is licensed after the commencement of a levy year or a levy period, a part of a levy year or a levy period must apply from the date of licensing to the end of the levy year or the levy period, as may be applicable. |
| (3) |
| (a) | Where the licence of a supervised entity is withdrawn or cancelled during a levy year or a levy period for whatever reason, a part of a levy year or a levy period must apply from the beginning of the relevant levy year or levy period to the date on which the licence is withdrawn or cancelled. |
| (b) | Where a levy has already been paid in full for a levy year or a levy period during which the licence of a supervised entity is withdrawn or cancelled, a refund of the levy must be provided to the supervised entity for the proportion of the levy year or levy period subsequent to the withdrawal or cancellation of the licence. |