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This instrument specifies certain metrics for the 2017 – 2018 financial year, which will be used in the formulae specified in the ASIC Supervisory Cost Recovery Regulations 2017 to work out the basic levy component and the graduated levy component, and a leviable entity’s levy component.
Administered by: Treasury
Registered 22 Nov 2018
Tabling HistoryDate
Tabled HR26-Nov-2018
Tabled Senate26-Nov-2018
Table of contents.

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ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2018/1063

I, Grant Moodie, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date                20 November 2018

 

 

Grant Moodie

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2018/1063.

2        Commencement

This instrument takes effect as follows:

(a)     if subsection 11(3) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the instrument takes effect on the day specified in paragraph 11(3)(a) of that Act;

(b)     if subsection 11(4) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the remaining provisions of the instrument take effect on the day specified in paragraph 11(4)(a) of that Act.

Note 1: Section 11 of the ASIC Supervisory Cost Recovery Levy Act 2017 contains special provisions dealing with the disallowance and taking effect of instruments of this kind.

Note 2: Subsection 9(9) of the ASIC Supervisory Cost Recovery Levy Act 2017 has the effect that the instrument can have retrospective application before the day it is registered on the Federal Register of Legislation. The register may be accessed at www.legislation.gov.au.

3        Authority

This instrument is made under section 73 of the ASIC Supervisory Cost Recovery Levy Regulations 2017.

4        Definitions

In this instrument:

(a)     Regulations means the ASIC Supervisory Cost Recovery Levy Regulations 2017;

(b)     unless the contrary intention appears, an expression that:

(i)    is used, but not defined, in this instrument; and

(ii)   is defined in the Regulations;

has the same meaning in this instrument as in the Regulations.


Part 2—Determination

5        Applicable financial year

This determination applies to the 2017 – 2018 financial year.

6        Sub-sector population

For the purposes of the definition of sub-sector population in subsection 4(1) of the Regulations, the sub-sector population for the sub-sector specified in column 2 of the table for the financial year is specified in column 3 of the table.
 

Column 1

Column 2

Column 3

Item

Sub-sectors

Sub-sector population

1

Auditors of disclosing entities

123

2

Australian derivative trade repository operators

2

3

Corporate advisors

339

4

Credit intermediaries

5,124

5

Credit providers

1,155

6

Credit rating agencies

7

7

Custodians

1,023

8

Deposit product providers

244

9

Exempt CS facility operators

1

10

Exempt market operators

32

11

Insurance product distributors

3,043

12

Insurance product providers

105

13

Large futures exchange operators

1

14

Large futures exchange participants

41

15

Large proprietary companies

11,333

16

Large securities exchange operators

2

17

Large securities exchange participants

68

18

Licensees that provide only general advice to retail clients or wholesale clients 

1,014

19

Licensees that provide personal advice on relevant financial products to retail clients

2,985

20

Licensees that provide personal advice to only wholesale clients

1,511

21

Licensees that provide personal advice to retail clients on only products that are not relevant financial products

649

22

Listed corporations

2,177

23

Managed discretionary account providers

198

24

Margin lenders

22

25

Operators of investor directed portfolio services

93

26

Overseas market operators

10

27

Over-the-counter traders

68

28

Payment product providers

652

29

Public companies (unlisted)

16,014

30

Registered company auditors

4,453

31

Registered liquidators

718

32

Responsible entities

471

33

Retail over-the-counter derivatives issuers

105

34

Risk management product providers

58

35

Securities dealers

886

36

Small amount credit providers

195

37

Small derivative market operators

6

38

Small futures exchange operators

1

39

Small securities exchange operators

2

40

Small securities exchange operators with self-listing function only

1

41

Superannuation trustees

139

42

Tier 1 clearing and settlement facility operators

4

43

Tier 2 clearing and settlement facility operators

1

44

Tier 3 clearing and settlement facility operators

1

45

Tier 4 clearing and settlement facility operators

1

46

Traditional trustee company service providers

13

47

Wholesale electricity dealers

44

48

Wholesale trustees

1,626

7        Sub-sector metricsbasic levy component and graduated levy component

For the purposes of the definitions of:

(a)     basic levy component in subsection 9(1) of the Regulations; and

(b)     graduated levy component in subsection 10(1) of the Regulations;

the applicable sub-sector metric for the sub-sector specified in column 2 of the table for the financial year is specified in column 3 of the table.

 

Column 1

Column 2

Column 3

Item

Sub-sectors

Sub-sector metric

 

 

Basic levy component

(as applicable)

Graduated levy component

(as applicable)

1

Auditors of disclosing entities

470,569,745

 

2

Australian derivative trade repository operators

730

 

3

Corporate advisors

 

3,865,259,609

4

Credit intermediaries

 

37,374

5

Credit providers

 

561,253,358,709

6

Credit rating agencies

 

1,095

7

Custodians

1,023

 

8

Deposit product providers

 

2,263,038,282,872

9

Exempt CS facility operators

365

 

10

Exempt market operators

10,148

 

11

Insurance product distributors

3,043

 

12

Insurance product providers

 

42,815,225,400

13

Large futures exchange operators

365

 

14

Large futures exchange participants

 

194,675,925 (messages)

24,159,848 (transactions)

15

Large proprietary companies

11,333

 

16

Large securities exchange operators

1,583,948,176,362

 

17

Large securities exchange participants

 

3,391,845,789 (messages)

806,322,001 (transactions)

18

Licensees that provide only general advice to retail clients or wholesale clients 

1,014

 

19

Licensees that provide personal advice on relevant financial products to retail clients

 

22,652

20

Licensees that provide personal advice to only wholesale clients

1,511

 

21

Licensees that provide personal advice to retail clients on only products that are not relevant financial products

229,700

 

22

Listed corporations

 

1,386,851,193,609

23

Managed discretionary account providers

69,269

 

24

Margin lenders

7,835

 

25

Operators of investor directed portfolio services

 

630,030,930

26

Overseas market operators

3,000

 

27

Over-the-counter traders

 

2,510

28

Payment product providers

227,339

 

29

Public companies (unlisted)

16,014

 

30

Registered company auditors

4,453

 

31

Registered liquidators

 

65,900

32

Responsible entities

 

1,194,276,323,558

33

Retail over-the-counter derivatives issuers

37,076

 

34

Risk management product providers

20,074

 

35

Securities dealers

 

89,900,391,621

36

Small amount credit providers

1,527,220,643

 

37

Small derivative market operators

4,196

 

38

Small futures exchange operators

0

 

39

Small securities exchange operators

730

 

40

Small securities exchange operators with self-listing function only

365

 

41

Superannuation trustees

 

1,528,474,127,703

42

Tier 1 clearing and settlement facility operators

1,460

 

43

Tier 2 clearing and settlement facility operators

365

 

44

Tier 3 clearing and settlement facility operators

365

 

45

Tier 4 clearing and settlement facility operators

365

 

46

Traditional trustee company service providers

4,745

 

47

Wholesale electricity dealers

44

 

48

Wholesale trustees

570,254

 

8        IT percentage—large futures exchange participants

For the purposes of the definition of IT percentage in subsection 64(5) of the Regulations, the percentage for the financial year is 25.02%, being the percentage that corresponds to the extent to which the sub-sector regulatory costs in relation to the large futures exchange participants sub-sector for the financial year are attributable to costs relating to information technology.

9        IT percentage—large securities exchange participants

For the purposes of the definition of IT percentage in subsection 65(5) of the Regulations, the percentage for the financial year is 28.38%, being the percentage that corresponds to the extent to which the sub-sector regulatory costs in relation to the large securities exchange participants sub-sector for the financial year are attributable to costs relating to information technology.