Commonwealth Consolidated Acts

ASIC SUPERVISORY COST RECOVERY LEVY ACT 2017 - SECT 7

    In this Act:

"ASIC" means the Australian Securities and Investments Commission.

"audit entity" means:

  (a)   a registered company auditor (within the meaning of the Corporations Act 2001 ); or

  (b)   a partnership or unincorporated association that is an audit firm (within the meaning of the Corporations Act 2001 ); or

  (c)   an audit company (within the meaning of the Corporations Act 2001 ); or

  (d)   an authorised audit company (within the meaning of the Corporations Act 2001 ); or

  (e)   an individual auditor (within the meaning of the Corporations Act 2001 ); or

  (f)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"company-like entity" means:

  (a)   a Part   5.1 body (within the meaning of the Corporations Act 2001 ); or

  (b)   a Part   5.7 body (within the meaning of the Corporations Act 2001 ); or

  (c)   a body (other than a company) that is a disclosing entity under subsection   111AC(1) of the Corporations Act 2001 ; or

  (d)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"credit services entity" means:

  (a)   a licensee within the meaning of the National Consumer Credit Protection Act 2009 ; or

  (b)   a person who is exempt from the operation of section   29 of the National Consumer Credit Protection Act 2009 (which is about the requirement to hold a credit licence) under any of the following provisions of that Act:

  (i)   paragraph   109(1)(a);

  (ii)   paragraph   109(3)(a);

  (iii)   paragraph   110(a);

    but only if the person is required to notify ASIC that the person is so exempt; or

  (c)   a person who contravenes section   29 of the National Consumer Credit Protection Act 2009 ; or

  (d)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"exempt entity" , for a financial year, means a regulated entity that is in a class of persons prescribed by the regulations for the financial year.

"financial services entity" means:

  (a)   a financial services licensee (within the meaning of the Corporations Act 2001 ); or

  (b)   an RSE licensee; or

  (c)   a person who is exempt from the requirement in section   911A of the Corporations Act 2001 to hold an Australian financial services licence for a financial service under any of the following provisions of that Act:

  (i)   subsection   911A(2);

  (ii)   paragraph   926A(2)(a);

  (iii)   paragraph   926B(1)(a);

    but only if the person is required to notify ASIC that the person is so exempt; or

  (d)   a person who contravenes subsection   911A(1) of the Corporations Act 2001 ; or

  (e)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"leviable entity" , for a financial year, means a person who:

  (a)   is a regulated entity at any time in the financial year; and

  (b)   is not an exempt entity for the financial year.

"liquidator entity" means:

  (a)   a registered liquidator (within the meaning of the Corporations Act 2001 ); or

  (b)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"market infrastructure entity" means:

  (a)   a market licensee (within the meaning of the Corporations Act 2001 ); or

  (b)   a person who operates a financial market that is exempt under section   791C from the operation of Part   7.2 of the Corporations Act 2001 ; or

  (c)   a person who is exempt under paragraph   907D(2)(a) of the Corporations Act 2001 from the operation of section   905A of that Act, but only if the person is required to notify ASIC that the person is so exempt; or

  (d)   a person who:

  (i)   is a participant (within the meaning of the Corporations Act 2001 ) in a licensed market; or

  (ii)   would be such a participant if paragraph   (b) of the definition of participant in section   9 of that Act covered a person who is allowed to indirectly participate in the facility or market concerned; or

  (e)   a CS facility licensee (within the meaning of the Corporations Act 2001 ); or

  (f)   a person who operates a clearing and settlement facility that is exempt under section   820C from the operation of Part   7.3 of the Corporations Act 2001 ; or

  (g)   a derivative trade repository licensee (within the meaning of the Corporations Act 2001 ); or

  (ga)   a benchmark administrator licensee (within the meaning of the Corporations Act 2001 ); or

  (h)   a person who contravenes section   791A of the Corporations Act 2001 (which is about the requirement to hold a market licence); or

  (i)   a person who contravenes section   820A of the Corporations Act 2001 (which is about the requirement to hold an Australian CS facility licence); or

  (j)   a person who contravenes section   905A of the Corporations Act 2001 (which is about the requirement for certain derivative trade repositories to be licensed); or

  (ja)   a person who:

  (i)   administers a significant financial benchmark (within the meaning of the Corporations Act 2001 ); and

  (ii)   contravenes subsection   908BA(1) of that Act (which is about the requirement to hold a benchmark administrator licence) in relation to that financial benchmark; or

  (k)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"person" has a meaning affected by section   12.

"regulated entity" means:

  (a)   a company that is registered under the Corporations Act 2001 ; or

  (b)   a financial services entity; or

  (c)   a credit services entity; or

  (d)   a market infrastructure entity; or

  (e)   an audit entity; or

  (f)   a liquidator entity; or

  (g)   a company - like entity; or

  (h)   a person regulated by ASIC who is in a class of persons prescribed by the regulations.

"regulatory costs" , for a financial year, has the meaning given by section   10.

"RSE licensee" has the same meaning as in the Superannuation Industry (Supervision) Act 1993 .

"sector" means:

  (a)   if the regulations specify sectors--a group of one or more entities each of which meets the criteria specified in the regulations for the sector; or

  (b)   otherwise--a group of one or more entities each of which satisfies a particular paragraph of the definition of regulated entity .

Note:   An entity may form part of more than one sector.

"sub-sector" means a group of one or more entities each of which meets the criteria specified in the regulations for the sub - sector.

Note:   An entity may form part of more than one sub - sector.