Commonwealth Numbered Regulations

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ASIC SUPERVISORY COST RECOVERY LEVY REGULATIONS 2017 (F2017L00805) - REG 56

Tier 3 clearing and settlement facility operators

             (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.



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