Commonwealth Numbered Regulations Commonwealth Numbered Regulations(1) This section applies to the person if section 16 does not apply to the person in relation to the leviable sub-sector.
(2) The amount of levy imposed by section 9 of the Act on the person for the levy period and the leviable sub-sector is worked out using the formula:
where:
"graduated entity metric " has the same meaning as in section 10 of the ASIC Supervisory Cost Recovery Levy Regulations 2017 for the person for the leviable sub-sector:
(a) for the financial year that is the qualifying period for the levy period; and
(b) for the purposes of levy of the kind worked out under those regulations.
"sub-sector metric " means the sum of the amounts of graduated entity metric:
(a) for the financial year that is the qualifying period for the levy period; and
(b) for the leviable 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 leviable 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.
"total special levy " means, subject to subsection (3), the total amount of special levy specified, under paragraph 1069H(5)(b) of the Corporations Act 2001 , for the leviable sub-sector in the Ministerial determination.
Note: For the minimum levy component, see subsection 9(2).
(3) However, if the sum of the total amounts of special levy specified, under paragraph 1069H(5)(b) of the Corporations Act 2001 , for all sub-sectors in the Ministerial determination exceeds the amount remaining in the scheme levy cap, the total special levy is worked out using the formula:
where:
"amount remaining in the scheme levy cap " means the amount by which the scheme levy cap exceeds the total amount of levy already imposed for the levy period:
(a) across all persons across all sub-sectors; and
(b) before the Ministerial determination was made.
"total special levy for all leviable sub-sectors " means the total amount of special levy specified, under paragraph 1069H(5)(b) of the Corporations Act 2001 , for all sub-sectors in the Ministerial determination.
"total special levy for the leviable sub-sector " means the total amount of special levy specified, under paragraph 1069H(5)(b) of the Corporations Act 2001 , for the leviable sub-sector in the Ministerial determination.
Note: This subsection ensures the scheme levy cap will not be exceeded.
(4) However, if a component of a formula in this section is nil or a negative amount, the amount of levy worked out using the formula is nil.
