Financial Sector and Deposit Insurance Levies Act, 2022 (Act No. 11 of 2022)Part A : Financial sector levy and special levy8. Special levy |
| (1) | A supervised entity must pay the special levy, determined in terms of subsection (2), in respect of the first two levy years immediately following the date of the commencement of this Act. |
| (2) |
| (a) | The special levy in respect of a levy year or a levy period, or part of a levy year or a levy period, that is payable to the Financial Sector Conduct Authority, as contemplated in section 237(3A)(a) of the Financial Sector Regulation Act, read with section 246(2)(a) of that Act, is an amount equal to 7.5 per cent of the amount of the financial sector levy payable by that supervised entity in respect of Schedules 2 to 5, determined in terms of section 4 in respect of that levy year or levy period, or part of a levy year or a levy period. |
| (b) | The special levy in respect of a levy year or a levy period, or part of a levy year or a levy period, that is payable to the Prudential Authority and collected by the Reserve Bank, as contemplated in section 237(3A)(b) of the Financial Sector Regulation Act, read with section 246(2)(b) of that Act, is an amount equal to 7.5 per cent of the amount of the financial sector levy payable by that supervised entity in respect of Schedule 1, determined in terms of section 4 in respect of that levy year or levy period, or part of a levy year or a levy period. |