New Zealand Legislation: Regulations

12 Council to fix actual rate of levy

• (1) Subject to subclause (2), the Council must, at its annual general meeting in each levy year, determine the actual rate of the levy for that levy year, before 31 December in that levy year.

  (2) In the case of the levy year ending with 30 June 2005, the actual rate of levy is to be that fixed by the Council for that levy year at its annual general meeting held in the 2004 calendar year, whether or not that meeting occurs before or after the commencement of this order.