Financial Institutions Levy Regulations 1985 (NI)

NORFOLK ISLAND

FINANCIAL INSTITUTIONS LEVY REGULATIONS 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

1. Short title 2. Interpretation 3. Prescribed law, etc 3A. Prescribed person and prescribed service 4. Manner of transfer of total proceeds 5. Prescribed business 5A. Prescribed transactions 6. Exemption of certain receipts 7. Returns 8. Exemption certificate 9. Manner of using loan accounts 10. Manner of using school savings accounts 11. Offences Schedule 1 Schedule 2

NORFOLK ISLAND

Financial Institutions Levy Regulations 1985 _______________________________________________________________________

Short title 1. These Regulations may be cited as the Financial Institutions Levy Regulations 1985. Interpretation 2. (1) In these Regulations — (a) "the Act" means the Financial Institutions Levy Act 1985; and (b) a reference to a form by number is a reference to a form so numbered in Schedule 1. (2) For the purposes of these Regulations, unless the contrary intention appears, words, expressions and provisions contained in these Regulations have the same interpretation, application and effect as they have under the Act. Prescribed law, etc 3. (1) For the purposes of subsubparagraph 3(1)(d)(ii)(C) of the definition of "exempt person" in subsection 3(1) of the Act, a prescribed law is a law specified in Table 1 of Schedule 2. (2) For the purposes of paragraph 3(1)(f) of the definition of "exempt person" in subsection 3(1) of the Act, the person appointed to the statutory office specified in Column 1 under the enactment specified opposite to the statutory office in Column 2 in Table 2 of Schedule 2 is an exempt person. Prescribed person and prescribed service 3A. (1) For the purposes of the definition of "financial institution" in section 3(1) of the Act, the Administration, in relation to its provision of the service (known as money order service) for the purpose of enabling persons to pay money to the Administration for transmission through the post for payment to another person within the meaning of section 3(1) of the Postal Services Act 1983, is a prescribed person. (2) For the purposes of section 3(2)(b)(iv) of the Act, a prescribed service is the service known as the money order service referred to in subregulation 3A(1).