{"id":"F2018L00995","name":"ASIC (Fees—Complexity Criteria) Instrument 2018/578","slug":"asic-fees-complexity-criteria-instrument-2018-578","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":97691,"registerId":"commonwealth-F2018L00995-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"Medium complexity","sectionType":"section","heading":"Medium complexity","content":"#### Medium complexity\n\n    (2) The lodgment of an application, under subsection 825A(2) of the Act, to impose, vary or revoke conditions on an Australian CS facility licence, is of medium complexity if the assessment of the application requires:\n      (a) a moderate level of expertise, or a moderate amount of time, to assess the matters referred to in subsection 827A(2) of the Act; or\n      (b) the development of new policy in relation to Australian CS facility licences.","sortOrder":0},{"sectionNumber":"Low complexity","sectionType":"section","heading":"Low complexity","content":"#### Low complexity\n\n    (3) The lodgment of an application, under subsection 825A(2) of the Act, to impose, vary or revoke conditions, on an Australian CS facility licence, is of low complexity if the lodgment of the application is of neither high nor medium complexity.\n\n  \n\nEndnotes\n\nEndnote 1—Instrument history\n\n| Instrument number | Date of FRL registration    | Date of commencement | Application, saving or transitional provisions |\n| ----------------- | --------------------------- | -------------------- | ---------------------------------------------- |\n| 2018/578          | 3/7/2018 (see F2018L00995)  | 4/7/2018             |                                                |\n| 2019/130          | 27/3/2019 (see F2019L00425) | 1/4/2019             | -                                              |\n| 2023/670          | 31/8/2023                   | 1/9/2023             |                                                |\n\nEndnote 2—Amendment history\n\n> Note: ad. = added or inserted am. = amended LA = Legislation Act 2003 rep. = repealed rs. = repealed and substituted\n\n| Provision affected | How affected |\n| ------------------ | ------------ |\n| Section 2          | rep. s48D LA |\n| Section 5          | am. 2023/670 |\n| Section 10         | ad. 2019/130 |\n| Section 11         | ad. 2019/130 |","sortOrder":1}],"analysis":{"flash_summary_failed":{"failed":true,"reason":"Unauthenticated. Configure AI_GATEWAY_API_KEY or use a provider module. Learn more: https://ai-sdk.dev/unauthenticated-ai-gateway","source":"analysis-cron"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument appears to serve its original narrow purpose: establishing complexity criteria for fee purposes. The amendment history shows minor updates (section 5 amended in 2023, sections 10-11 added in 2019) but no mission creep. It remains a technical fee-classification instrument."},"complexity_factors":["Extremely short — only 3 operative subsections visible (subsections 2 and 3, plus implied high complexity in section 1 not shown)","Minimal defined terms — only refers to existing definitions in the Corporations Act (section 825A, 827A, 'Australian CS facility licence')","No cross-references to other legislative instruments beyond the parent Act","Simple conditional structure — basic 'if/then' logic with a default fallback (low complexity = not high and not medium)","No exceptions to exceptions or nested conditions","Fragment provided appears to be an excerpt — the full instrument likely contains high complexity criteria in section 1 and possibly other sections, but even complete would be brief"],"plain_english_summary":"This instrument defines a three-tier complexity framework (high, medium, low) for ASIC’s assessment of applications to impose, vary or remove conditions on Australian clearing and settlement (CS) facility licences. It determines whether an application needs more regulatory time or expertise, and—crucially—what fee tier applies. It affects operators of CS facilities (e.g., exchange clearing houses) by dictating the assessment intensity and cost for licence-condition changes."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"The instrument has been amended (entries show additions in 2019 and an amendment in 2023). The supplied excerpt does not include earlier versions, so while the instrument’s text has been altered, the precise substantive change to scope cannot be determined from the material provided."},"complexity_factors":["Narrow, specific subject-matter (applications about imposing/varying/revoking conditions on Australian CS facility licences)","Cross-references to other Act provisions (subsections 825A(2) and 827A(2)), requiring readers to consult the Act for full meaning","Subjective thresholds (\"moderate level of expertise\", \"moderate amount of time\", \"development of new policy\") that grant administrative discretion","Dependence on an external definition of \"high complexity\" (not reproduced here) to define \"low complexity\"","Limited text length but potential operational effect on fee classification and resource allocation within ASIC"],"plain_english_summary":"This instrument sets how ASIC classifies the complexity of applications under subsection 825A(2) to impose, vary or revoke conditions on an Australian CS facility licence (for the instrument’s fee/complexity purposes). It defines medium complexity as cases requiring a moderate level of expertise or time to assess the matters in subsection 827A(2), or where new policy must be developed; low complexity is any lodgment that is neither high nor medium. It therefore affects applicants and ASIC assessors by guiding categorisation and administrative handling."}},"importantCases":[],"_links":{"self":"/api/acts/asic-fees-complexity-criteria-instrument-2018-578","history":"/api/acts/asic-fees-complexity-criteria-instrument-2018-578/history","analysis":"/api/acts/asic-fees-complexity-criteria-instrument-2018-578/analysis","conflicts":"/api/acts/asic-fees-complexity-criteria-instrument-2018-578/conflicts","importantCases":"/api/acts/asic-fees-complexity-criteria-instrument-2018-578/important-cases","documents":"/api/acts/asic-fees-complexity-criteria-instrument-2018-578/documents"}}