(1) A leviable entity forms part of the Tier 3 clearing and settlement facility operators sub-sector in a financial year if, at any time in the financial year, the entity holds an Australian CS facility licence that was granted in relation to a clearing and settlement facility that:
(a) is not systemically important in Australia; and
(b) has no strong connection to the Australian financial system.
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 facility; or
(b) if the entity operated 2 or more clearing and settlement facilities of the kind mentioned in subsection (1) in the financial year--the sum of the days worked out under paragraph (a) for each of those facilities.