Commonwealth Consolidated Regulations

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FINANCIAL SERVICES COMPENSATION SCHEME OF LAST RESORT LEVY REGULATIONS 2023 - REG 4

Definitions

Note:   A number of expressions used in this instrument are defined in the Act, including the following:

(a)   ASIC;

(b)   levy period;

(c)   qualifying period.

  (1)   In this instrument:

"Act" means the Financial Services Compensation Scheme of Last Resort Levy Act 2023 .

"admit to quotation" has the same meaning as in the Corporations Act 2001 .

"amount of credit" has the same meaning as in subsection   3(2) of the National Credit Code.

"credit" has the same meaning as in the National Consumer Credit Protection Act 2009 .

"credit contract" has the same meaning as in the National Consumer Credit Protection Act 2009 .

"credit intermediaries sub-sector" means the sub - sector mentioned in paragraph   6(a).

"credit providers sub-sector" means the sub - sector mentioned in paragraph   6(b).

"entity metric" has the meaning given by section   12.

"financial product" has the meaning given by Division   3 of Part   7.1 of the Corporations Act 2001 .

"graduated levy component" has the meaning given by section   11.

"large securities exchange" has the same meaning as in the ASIC Supervisory Cost Recovery Levy Regulations   2017 .

"leviable entity" has the same meaning as in the ASIC Supervisory Cost Recovery Levy Act 2017 .

"licensed personal advice sub-sector" means the sub - sector mentioned in paragraph   6(c).

"medium amount credit contract" has the same meaning as in the National Credit Code.

"minimum levy component" has the meaning given by subsection   9(2).

"Ministerial determination" has the meaning given by subparagraph   15(b)(ii).

"not subject to the AFCA scheme" : a person is not subject to the AFCA scheme at a particular time if the person is not required (directly or indirectly) by a law of the Commonwealth to be a member of the AFCA scheme at that time.

"securities dealers sub-sector" means the sub - sector mentioned in paragraph   6(d).

"security" has the meaning given by subsection   92(5) of the Corporations Act 2001 .

"small amount credit contract" has the same meaning as in the National Consumer Credit Protection Act 2009 .

  (2)   Subject to the Act and this instrument, Part   1.2 (Interpretation) of the Corporations Act 2001 applies for the purposes of this instrument as if the provisions of this instrument were provisions of that Act.

Note:   Part   1.2 of the Corporations Act 2001 includes the Dictionary in section   9 of that Act, so the definitions in that section apply for the purposes of this instrument unless the Act or this instrument otherwise provides.


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