Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) A leviable entity forms part of the payment product providers sub-sector in a financial year if, at any time in the financial year, the entity holds an Australian financial services licence that authorises the holder to deal in a financial product through which, or through the acquisition of which, non-cash payments can be made.
Note: For non-cash payments, see section 763D of the Corporations Act 2001 .
Levy component--financial year starting on 1 July 2017
(2) The basic levy component applies in respect of the sub-sector for the financial year starting on 1 July 2017.
Note: For the basic levy component, see section 9.
Entity metric--financial year starting on 1 July 2017
(3) The leviable entity's entity metric for the sub-sector for the financial year starting on 1 July 2017 is the number of days in the financial year on which the entity holds a licence of the kind mentioned in subsection (1).
Levy component--financial year starting on or after 1 July 2018
(4) The amount of a leviable entity's levy component in respect of the sub-sector for a financial year starting on or after 1 July 2018 is the sum of:
(a) the minimum levy component for the sub-sector; and
(b) the graduated levy component for the entity for the sub-sector.
Note: For the graduated levy component, see section 10.
Entity metric--financial year starting on or after 1 July 2018
(5) The leviable entity's entity metric for the sub-sector for a financial year starting on or after 1 July 2018 is the gross revenue received in the financial year by the entity in connection with non-cash payment products issued by the entity less expenses incurred in the financial year from dealing in non-cash payment facilities.
(6) The minimum levy component for the sub-sector is $2,000.