Commonwealth Consolidated Regulations Commonwealth Consolidated RegulationsGeneral rule
(1) A person's entity metric for a levy period and a sub - sector is worked out as follows:
Working out the person's entity metric | ||
Item | For this sub - sector: | The person's entity metric is: |
1 | credit intermediaries sub - sector | the number of credit representatives (within the meaning of the National Consumer Credit Protection Act 2009 ) the person has at the end of the qualifying period for the levy period. |
2 | credit providers sub - sector | the gross amount of credit provided by the person in the qualifying period for the levy period under credit contracts (other than small amount credit contracts or medium amount credit contracts). |
3 | licensed personal advice sub - sector | subject to subsection (2), the number of relevant providers that: (a) are registered on the Register of Relevant Providers at the end of the qualifying period for the levy period; and (b) are authorised to provide personal advice to retail clients on behalf of the person. |
4 | securities dealers sub - sector | the total value of transactions in securities (as measured by the buy price plus the sale price of securities) that: (a) are executed for the person on, or reported for the person to, a large securities exchange in the qualifying period for the levy period; and (b) are reported by the operator of the large securities exchange to ASIC's Market Surveillance System; and (c) are recognised by ASIC's Market Surveillance System as executed transactions. For this purpose, 2 or more reports that relate to the same transaction, and contain the same information, are counted as one transaction. |
(2) For the purposes of working out the number of relevant providers under item 3 of the table in subsection (1) for a person that also forms part of a sub - sector mentioned in section 64, 65 or 67 of the ASIC Supervisory Cost Recovery Levy Regulations 2017 at any time in the qualifying period for the levy period, disregard relevant providers that only provide the following kinds of advice:
(a) advice on financial products that are admitted to quotation;
(b) advice on financial products that are traded on a prescribed foreign financial market (within the meaning of subregulation 7.7A.12D(2) of the Corporations Regulations 2001 );
(c) advice on basic banking products.
Note: Those sections of the ASIC Supervisory Cost Recovery Levy Regulations 2017 describe the large futures exchange participants sub - sector, the large securities exchange participants sub - sector, and the securities dealer sub - sector.
Pro - rata adjustment of entity metric for certain sub - sectors
(3) Despite subsection (1), if:
(a) the sub - sector is the credit intermediaries sub - sector, and the person holds a licence of the kind mentioned in subsection 25(1) of the ASIC Supervisory Cost Recovery Levy Regulations 2017 on only some of the days in the qualifying period for the levy period; or
(b) the sub - sector is the licensed personal advice sub - sector, and the person holds a licence of the kind mentioned in subsection 43(1) of the ASIC Supervisory Cost Recovery Levy Regulations 2017 on only some of the days in the qualifying period for the levy period;
the person's entity metric for the levy period and the sub - sector is worked out by multiplying the amount worked out under subsection (1) for the person for the levy period and the sub - sector by the following fraction:
where:
"counted days" means the number of days in the qualifying period for the levy period on which the person holds a licence of the kind referred to in paragraph (a) or (b) (as applicable).