AmendmentAct
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5/2/2012<br />
5. Section 5 of the principal Act is amended-<br />
(a) by replacing subsection (1) with the following new subsection (1)-<br />
"(1) The monies of the SMVA Fund shall consist of the motor vehicle<br />
accidents levy imposed on fuel under section 6 and any income derived<br />
from the investment of the monies of the SMVA, Fund and such other<br />
sums as the SMV A Fund may acquire, earn or borrow in accordance with<br />
the provisions of this Act and, any unclaimed or unused monies deposited<br />
into the SMV A Fund's bank account remaining so deposited for a period<br />
exceeding two years shall be deemed to have accrued to the SMVA<br />
Fund."; and,<br />
(b) by repealing subsections (4) and (5).<br />
Replacement of Section 6<br />
6. Section 6 of the principal Act is hereby replaced with the following section 6-<br />
"Imposition of Motor Vehicle Accidents Levy<br />
6. "(1) With effect from the date of commencement of this Act, the motor vehicle<br />
accidents levy shall be thirty five cents (35c).<br />
(2) The Minister may, at least once in twelve (12) months, or as deemed<br />
necessary and after consultation with the Board and subsequently with the Minister<br />
responsible for Natural Resources and Energy, by notice published in the Gazette<br />
determine such amount of the motor vehicle accidents levy.<br />
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