Commonwealth Numbered Regulations

ASIC SUPERVISORY COST RECOVERY LEVY REGULATIONS 2017 (F2017L00805) - REG 63

             (1)  A leviable entity forms part of the corporate advisors sub-sector in a financial year if, at any time in the financial year:

                     (a)  the entity:

                              (i)  holds an Australian financial services licence; or

                             (ii)  is exempt from the requirement to hold such a licence under paragraph 911A(2)(l) or subsection 926A(2) of the Corporations Act 2001 (other than because of an exemption under the ASIC Corporations (Foreign Financial Services Providers--Limited Connection) Instrument 2017/182 ); and

                     (b)  the entity, or an authorised representative of the entity, provides or holds out that it provides, one or more of the financial services mentioned in subsection (2).

             (2)  For the purposes of paragraph (1)(b), the financial services are:

                     (a)  financial product advice provided in Australia to a wholesale client in the course of advising on any of the following:

                              (i)  takeover bids or merger proposals;

                             (ii)  the structure, pricing, acquisition or disposal of assets or enterprises;

                            (iii)  raising or reducing capital through the issue or acquisition of equities or debt; and

                     (b)  dealing in a financial product in Australia by underwriting the issue, acquisition or sale of the product.

Levy component

             (3)  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)  if the entity's entity metric for the sub-sector for the financial year exceeds the minimum levy threshold--the graduated levy component for the entity for the sub-sector.

Note:          For the graduated levy component, see section 10.

Entity metric

             (4)  The leviable entity's entity metric for the sub-sector for the financial year is the total gross revenue made in the financial year by the entity, and the authorised representative of the entity, from providing the financial services mentioned in subsection (2).

             (5)  The minimum levy component for the sub-sector is $1,000.

             (6)  The minimum levy threshold for the sub-sector is $100,000.