Section 139 – Imposition of levy
967.Under Section 135, Monitor has the power to impose levies on providers for the purposes of providing financial assistance during special administration (subsection (1)).
968.Subsection (2) requires that before the beginning of each financial year and before determining any levies to be imposed for that financial year, Monitor must estimate
The funds needed to cover the potential costs of providing financial assistance during special administration in the forthcoming financial year;
The amount to be collected from commissioners in each financial year; and
Any surplus funds that would remain at the end of that financial year.
969.Where Monitor decides to impose a levy, subsection (3) requires Monitor to determine the methodology for establishing the rate of the levy and when the levy would be payable. An explanation of any changes to the methodology for establishing the rate must be included in the consultation required to be carried out under section 141 on any proposed levy. Monitor is able to differentiate the levies for different providers (subsection (5)).
