Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) The graduated levy component for a person for a levy period and a sub-sector is the amount worked out using the formula:
where:
"graduated entity metric " , for the levy period and the sub-sector, means:
(a) unless paragraph (b) applies--the person's entity metric for the levy period and the sub-sector; or
(b) if the sub-sector is the credit providers sub-sector--the difference between:
(i) the person's entity metric for the levy period and the sub-sector; and
(ii) $100,000,000.
Note: For the person's entity metric, see section 12.
"sub-sector costs " means the lesser of:
(a) the initial claims, fees and costs estimate for the levy period and the sub-sector; and
(b) the sub-sector levy cap for the levy period and the sub-sector.
"sub-sector metric " means the sum of the amounts of graduated entity metric for the levy period and the sub-sector for all persons that form part of the sub-sector population.
"sub-sector population " means the difference between:
(a) the sub-sector p opulation (within the meaning of section 10 of the ASIC Supervisory Cost Recovery Levy Regulations 2017 ) for the sub-sector:
(i) for the financial year that is the qualifying period for the levy period; and
(ii) for the purposes of levy of the kind worked out under those regulations; and
(b) so many of that population as are not subject to the AFCA scheme at any time during that qualifying period.
(2) However, if a component of the formula is nil or a negative amount, the amount of the graduated levy component is nil.
