Commonwealth Numbered Regulations

ASIC SUPERVISORY COST RECOVERY LEVY REGULATIONS 2017 (F2017L00805) - REG 65

             (1)  A leviable entity forms part of the large securities exchange participants sub-sector in a financial year if, at any time in the financial year, the entity is a participant in a large securities exchange.

Levy component

             (2)  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)  the IT percentage of the graduated levy component for the entity for the sub-sector; and

                     (c)  10% of the non-IT percentage of the graduated levy component for the entity for the sub-sector; and

                     (d)  90% of the non-IT percentage of the graduated levy component for the entity for the sub-sector.

Entity metric (messages)

             (3)  The leviable entity's entity metric for the sub-sector for the financial year is the number of messages that:

                     (a)  are sent by the entity in the financial year to a large securities exchange; and

                     (b)  are reported by the operator of the large securities exchange to ASIC's Market Surveillance System; and

                     (c)  are recognised by ASIC's Market Surveillance System as orders or executed transactions.

Entity metric (transactions)

             (4)  However, in working out the graduated levy component for the purposes of paragraph (2)(d), the leviable entity's entity metric for the sub-sector for the financial year is instead the number of transactions that:

                     (a)  are executed on, or reported to, a large securities exchange by the entity in the financial year; and

                     (b)  are reported by the operator of the large securities exchange to ASIC's Market Surveillance System; and

                     (c)  are recognised by ASIC's Market Surveillance System as executed transactions.

             (5)  In this section:

"IT percentage " , for the sub-sector for the financial year, means the percentage determined by ASIC in an annual determination to be the percentage that corresponds to the extent to which the sub-sector regulatory costs in relation to the sub-sector for the financial year are attributable to costs relating to information technology.

"non-IT percentage " , for the sub-sector for the financial year, means 100% minus the IT percentage for the sub-sector for the financial year.

             (6)  The minimum levy component for the sub-sector is $9,000.