Financial Institutions Levy Act 1985 (NI)

NORFOLK ISLAND

FINANCIAL INSTITUTIONS LEVY ACT 1985

[Consolidated as at 29 January 2014 on the authority of the Administrator and in accordance with the Enactments Reprinting Act 1980] ________

TABLE OF PROVISIONS

PART 1 — PRELIMINARY 1. Short title 2. Commencement 3. Interpretation 4. Loan accounts 5. Trust accounts 6. Crediting of account 7. Foreign currency 8. Registration of financial institutions

PART 2 — LIABILITY TO LEVY …. 10. Exemption of certain receipts from application of section 9 11. Payment of levy 12. Passing on of levy 13. Returns 14. Incorrect payment 15. Keeping of books

PART 3 — EXEMPTION CERTIFICATES 16. Application for exemption certificates 17. Exemption certificates 18. Production, etc, of exemption certificates 19. Cancellation of exemption certificates

PART 4 — OFFENCES, ETC 20. Use of exemption certificate in contravention of Act 21. Using exempt accounts 22. Offences by body corporate 23. Warrant to enter, etc 24. Removal, etc, of books . . . .

PART 5 — MISCELLANEOUS 26. Time for prosecution 27. Evidentiary provisions 28. Penalties not to relieve payment of levy 29. Regulations

NORFOLK ISLAND

Financial Institutions Levy Act 1985 _______________________________________________________________________

An Act relating to the imposition and payment of financial institutions levy and related matters.

PART 1 — PRELIMINARY

Short title 1. This Act may be cited as the Financial Institutions Levy Act 1985. Commencement 2. This Act shall come into operation on a date fixed by the Administrator by notice published in the Gazette. Interpretation 3. (1) In this Act, unless the contrary intention appears — "account" means an account kept by a person, other than a financial institution, with a financial institution and includes a certificate of deposit whether or not the financial institution in receipt of the deposit to which the certificate relates classified the deposit as an account; "books" includes a register or record of information and accounts or accounting records however compiled, recorded or stored and includes any other document or writing necessary for compliance with this Act; "certificate of deposit" means a certificate in respect of an interest bearing deposit; "credit card" means an article of a kind commonly known as a credit card or a similar article issued by a financial institution intended for use in obtaining cash, goods or services on credit; "credit card account" means an account with a financial institution for the purpose of, or that is related to the use of, a prescribed card; "debit card" means an article intended for use by a person in obtaining access to an account in a financial institution held by the person for the purpose of withdrawing or depositing cash;