New Zealand Legislation: Regulations

13 SNZI must fix actual rates of levy

• (1) SNZI must fix the actual rates of the levy for the levy year ending on 30 September 2009 in accordance with its rules.

  (2) For each subsequent levy year, SNZI must fix the actual rates of the levy—

  • (a) at an annual general meeting of SNZI; or

  • (b) at a special general meeting.

  (3) If SNZI does not fix the actual rates of the levy under subclause (2) before the beginning of a levy year, the levy for that year is payable at the rates last fixed under this clause.