Commonwealth Numbered Regulations

ASIC SUPERVISORY COST RECOVERY LEVY AMENDMENT (ENHANCEMENTS) REGULATIONS 2018 (F2018L00963) - SCHEDULE 12

ASIC Supervisory Cost Recovery Levy Regulations 2017

1  Subsection 4(1)

Insert:

"lot " means a single futures contract with predefined terms and values.

2  Subsection 64(2)

Repeal the subsection, substitute:

Levy component

             (2)  The amount of a leviable entity's levy component in respect of the sub-sector for the financial year is the sum of:

                     (a)  the minimum levy component for the sub-sector; and

                     (b)  10% of the graduated levy component for the entity for the sub-sector; and

                     (c)  90% of the graduated levy component for the entity for the sub-sector.

3  After subsection 64(3)

Insert:

          (3A)  For the purposes of subsection (3), 2 or more reports that relate to the same message, and contain the same information, are counted as one message.

4  Subsections 64(4) and (5)

Repeal the subsections, substitute:

Entity metric (lots)

             (4)  However, in working out the graduated levy component for the purposes of paragraph (2)(c), the leviable entity's entity metric for the sub-sector for the financial year is instead the number of lots that:

                     (a)  are executed on, or reported to, a large futures exchange by the entity in the financial year; and

                     (b)  are reported by the operator of the large futures exchange to ASIC's Market Surveillance System; and

                     (c)  are recognised by ASIC's Market Surveillance System as executed lots.

             (5)  For the purposes of subsection (4), 2 or more reports that relate to the same lot, and contain the same information, are counted as one lot.

5  Subsection 65(2)

Repeal the subsection, substitute:

Levy component

             (2)  The amount of a leviable entity's levy component in respect of the sub-sector for the financial year is the sum of:

                     (a)  the minimum levy component for the sub-sector; and

                     (b)  10% of the graduated levy component for the entity for the sub-sector; and

                     (c)  90% of the graduated levy component for the entity for the sub-sector.

6  After subsection 65(3)

Insert:

          (3A)  For the purposes of subsection (3), 2 or more reports that relate to the same message, and contain the same information, are counted as one message.

7  Subsection 65(4)

Omit "paragraph (2)(d)", substitute "paragraph (2)(c)".

8  Subsection 65(5)

Repeal the subsection, substitute:

             (5)  For the purposes of subsection (4), 2 or more reports that relate to the same transaction, and contain the same information, are counted as one transaction.