Computation and notice of levy
104.—(1)  After the Minister has given a direction under section 102(1)(b) or (2), the Authority must, in accordance with the regulations made under section 126 for the purpose of this section —
(a)compute the amount of levy payable by every levy payer; and
(b)give a written notice to the trustee of the amount of levy payable by every levy payer.
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(2)  After receipt of the notice mentioned in subsection (1)(b), the trustee must give the notices mentioned in subsection (3), (4), (5) or (6) (whichever is applicable) to the levy payers and in the manner set out in that subsection.
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(3)  Where the levy is to be imposed on a similar financial institution, the trustee must give each similar financial institution a written notice stating —
(a)the amount of the levy;
(b)the date by which the levy is to be paid;
(c)the manner of payment of the levy; and
(d)such other matters as may be prescribed by regulations made under section 126.
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(4)  Where the levy is to be imposed on participants of a market infrastructure on a transaction basis, the trustee must give —
(a)a notice to the market infrastructure stating —
(i)the description of the participants on which the levy is imposed;
(ii)the amount of the levy it is to collect from each participant, or the rate of computation of that amount;
(iii)the period and manner of collection;
(iv)the date by which the market infrastructure is to pay the total amount of the levy imposed on the participants to the trustee;
(v)the information and documents it is to provide to the trustee when making the payment under sub‑paragraph (iv); and
(vi)such other matters as may be prescribed by regulations made under section 126; and
(b)a general notice to those participants, to be published on such medium as may be determined by the trustee, stating —
(i)the matters in paragraph (a)(i), (ii) and (iii); and
(ii)such other matters as may be prescribed by regulations made under section 126.
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(5)  Where the levy is to be imposed on participants of a market infrastructure on a lump sum basis, the trustee must give to each participant of the market infrastructure a written notice stating —
(a)the amount of the levy;
(b)the date by which the levy is to be paid;
(c)the manner of payment of the levy; and
(d)such other matters as may be prescribed by regulations made under section 126.
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(6)  Where the levy is to be imposed on participants of a payment system operator, the trustee must give to each participant a written notice stating —
(a)the amount of the levy;
(b)the date by which the levy is to be paid;
(c)the manner of payment of the levy; and
(d)such other matters as may be prescribed by regulations made under section 126.
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(7)  The notice under subsection (3), (5) or (6) may require the levy payer to pay an amount of levy regularly over a period of time.
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(8)  The trustee may, at any time, vary a notice mentioned in subsection (3), (4), (5) or (6), and give the notice of the variation to every person to whom the initial notice was given, and each reference in section 105 or 106 to a notice given to a person under this section includes a reference to the notice of the variation given to the person under this subsection.
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