Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) A leviable entity forms part of the small securities exchange operators sub-sector in a financial year if, at any time in the financial year, the entity is the operator of a small securities exchange.
Entity metric
(2) The leviable entity's entity metric for the sub-sector for the financial year is:
(a) unless paragraph (b) applies--the number of days in the financial year on which the entity operated the exchange; or
(b) if the entity operated 2 or more small securities exchanges in the financial year--the sum of the days worked out under paragraph (a) for each of those exchanges.
(3) A licensed market is a small securities exchange , in relation to a financial year, if:
(a) less than 10 million transactions in securities are entered into on the market in the financial year; and
(b) the market is not:
(i) an overseas market; or
(ii) a small securities (self-listing) exchange.