{"id":"F2020L01477","name":"ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2020/1073","slug":"asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":440675,"registerId":"F2020L01477-fast-fetch-1775956230187","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2020/1073","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: ASIC Template (Principal Legislative Instruments - Jan 2019)\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.png)\n\nASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2020/1073\n\nI, Emily Hodgson, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 24 November 2020\n\n \n\n \n\n \n\n \n\n \n\nEmily Hodgson\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc56528623)\n\n[1 Name of legislative instrument](#_Toc56528624)\n\n[2 Commencement and date of effect](#_Toc56528625)\n\n[3 Authority](#_Toc56528626)\n\n[4 Definitions](#_Toc56528627)\n\n[Part 2—Determination](#_Toc56528628)\n\n[5 Applicable financial year](#_Toc56528629)\n\n[6 Sub-sector population](#_Toc56528630)\n\n[7 Sub-sector metrics—basic levy component and graduated levy component](#_Toc56528631)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2020/1073.\n\n2 Commencement and date of effect\n\n(1) This instrument commences on the day after it is registered on the Federal Register of Legislation.\n\n Note: The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n(2) This instrument takes effect as follows:\n\n(a) if subsection 11(3) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the instrument takes effect on the day specified in paragraph 11(3)(a) of that Act;\n\n(b) if subsection 11(4) of ASIC Supervisory Cost Recovery Levy Act 2017 applies—the remaining provisions of the instrument take effect on the day specified in paragraph 11(4)(a) of that Act.\n\nNote 1: Section 11 of the ASIC Supervisory Cost Recovery Levy Act 2017 contains special provisions dealing with the disallowance and taking effect of instruments of this kind.\n\nNote 2: Subsection 9(9) of the ASIC Supervisory Cost Recovery Levy Act 2017 has the effect that the instrument can have retrospective application before the day it is registered on the Federal Register of Legislation. The register may be accessed at [www.legislation.gov.au](http://www.legislation.gov.au).\n\n3 Authority\n\nThis instrument is made under section 73 of the ASIC Supervisory Cost Recovery Levy Regulations 2017.\n\n4 Definitions\n\nIn this instrument:\n\n(a) Regulations means the ASIC Supervisory Cost Recovery Levy Regulations 2017;\n\n(b) unless the contrary intention appears, an expression that:\n\n(i) is used, but not defined, in this instrument; and\n\n(ii) is defined in the Regulations;\n\nhas the same meaning in this instrument as in the Regulations.\n\nPart 2—Determination\n\n5 Applicable financial year\n\nThis determination applies to the 2019–20 financial year.\n\n6 Sub-sector population\n\nFor the purposes of the definition of sub-sector population in subsection 4(1) of the Regulations, the sub-sector population for the sub-sector specified in column 2 of the table for the financial year is specified in column 3 of the table.  \n\n| Column 1 | Column 2 | Column 3 |\n| --- | --- | --- |\n| Item | Sub-sectors | Sub-sector population |\n| 1 | Auditors of disclosing entities | 122 |\n| 2 | Australian derivative trade repository operators | 2 |\n| 2A | Benchmark administrators | 1 |\n| 3 | Corporate advisors | 348 |\n| 4 | Credit intermediaries | 4,653 |\n| 5 | Credit providers | 1,096 |\n| 6 | Credit rating agencies | 6 |\n| 7 | Custodians | 1,126 |\n| 8 | Deposit product providers | 211 |\n| 8AA | Entities subject to close and continuous monitoring | 5 |\n| 8A | Established specialised market operators | 6 |\n| 9 | Exempt CS facility operators | 1 |\n| 10 | Exempt market operators | 19 |\n| 11 | Insurance product distributors | 3,242 |\n| 12 | Insurance product providers | 91 |\n| 13 | Large futures exchange operators | 1 |\n| 14 | Large futures exchange participants | 39 |\n| 15 | Large proprietary companies | 9,468 |\n| 16 | Large securities exchange operators | 2 |\n| 17 | Large securities exchange participants | 68 |\n| 18 | Licensees that provide only general advice to retail clients or wholesale clients | 1,004 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 2,991 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 1,624 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 625 |\n| 22 | Listed corporations | 2,112 |\n| 23 | Managed discretionary account providers | 254 |\n| 24 | Margin lenders | 25 |\n| 24A | New specialised market operators | 2 |\n| 25 | Operators of investor directed portfolio services | 86 |\n| 25A | Operators of notified foreign passport funds and regulated former notified funds | 0 |\n| 26 | Overseas market operators | 23 |\n| 27 | Over-the-counter traders | 77 |\n| 28 | Payment product providers | 657 |\n| 29 | Public companies (unlisted) | 14,945 |\n| 30 | Registered company auditors | 3,817 |\n| 31 | Registered liquidators | 667 |\n| 32 | Responsible entities | 449 |\n| 33 | Retail over-the-counter derivatives issuers | 99 |\n| 34 | Risk management product providers | 64 |\n| 35 | Securities dealers | 1,030 |\n| 36 | Small and medium amount credit providers | 226 |\n| 38 | Small futures exchange operators | 0 |\n| 39 | Small securities exchange operators | 2 |\n| 40 | Small securities exchange operators with self-listing function only | 1 |\n| 41 | Superannuation trustees | 114 |\n| 42 | Tier 1 clearing and settlement facility operators | 4 |\n| 43 | Tier 2 clearing and settlement facility operators | 1 |\n| 44 | Tier 3 clearing and settlement facility operators | 1 |\n| 45 | Tier 4 clearing and settlement facility operators | 1 |\n| 46 | Traditional trustee company service providers | 12 |\n| 47 | Wholesale electricity dealers | 33 |\n| 48 | Wholesale trustees | 1,693 |\n\n\n7 Sub-sector metrics—basic levy component and graduated levy component\n\nFor the purposes of the definitions of:\n\n(a) basic levy component in subsection 9(1) of the Regulations; and\n\n(b) graduated levy component in subsection 10(1) of the Regulations;\n\nthe applicable sub-sector metric for the sub-sector specified in column 2 of the table for the financial year is specified in column 3 of the table.    \n\n- Column 1 Column 2 Column 3\n- Item Sub-sectors Sub-sector metric\n- Basic levy component(as applicable) Graduated levy component(as applicable)\n- 1 Auditors of disclosing entities 558,036,020\n- 2 Australian derivative trade repository operators 732\n- 2A Benchmark administrators 366\n- 3 Corporate advisors 2,908,342,993\n- 4 Credit intermediaries 36,248\n- 5 Credit providers 496,901,516,808\n- 6 Credit rating agencies 1,098\n- 7 Custodians 1,126\n- 8 Deposit product providers 2,379,420,650,095\n- 8AA Entities subject to close and continuous monitoring 5\n- 8A Established specialised market operators 6,394\n- 9 Exempt CS facility operators 366\n- 10 Exempt market operators 3,472\n- 11 Insurance product distributors 3,242\n- 12 Insurance product providers 43,395,198,821\n- 13 Large futures exchange operators 366\n- 14 Large futures exchange participants 268,868,225 (messages) 371,634,755 (lots)\n- 15 Large proprietary companies 9,468\n- 16 Large securities exchange operators 2,155,287,250,967\n- 17 Large securities exchange participants 5,281,139,761 (messages)1,198,500,993(transactions)\n- 18 Licensees that provide only general advice to retail clients or wholesale clients 1,004\n- 19 Licensees that provide personal advice on relevant financial products to retail clients 21,308\n- 20 Licensees that provide personal advice to only wholesale clients 1,624\n- 21 Licensees that provide personal advice to retail clients on only products that are not relevant financial products 224,209\n- 22 Listed corporations 1,340,731,736,045\n- 23 Managed discretionary account providers 89,139\n- 24 Margin lenders 9,019\n- 24A New specialised market operators 263\n- 25 Operators of investor directed portfolio services 727,063,500\n- 25A Operators of notified foreign passport funds and regulated former notified funds 0\n- 26 Overseas market operators 7,559\n- 27 Over-the-counter traders 2,389\n- 28 Payment product providers 3,390,268,877\n- 29 Public companies (unlisted) 14,945\n- 30 Registered company auditors 3,817\n- 31 Registered liquidators 56,482\n- 32 Responsible entities 1,281,978,863,491\n- 33 Retail over-the-counter derivatives issuers 35,163\n- 34 Risk management product providers 22,689\n- 35 Securities dealers 132,872,561,242\n- 36 Small and medium amount credit providers 1,336,504,714\n- 38 Small futures exchange operators 0\n- 39 Small securities exchange operators 732\n- 40 Small securities exchange operators with self-listing function only 366\n- 41 Superannuation trustees 1,691,280,918,277\n- 42 Tier 1 clearing and settlement facility operators 1,464\n- 43 Tier 2 clearing and settlement facility operators 366\n- 44 Tier 3 clearing and settlement facility operators 366\n- 45 Tier 4 clearing and settlement facility operators 366\n- 46 Traditional trustee company service providers 4,142\n- 47 Wholesale electricity dealers 33\n- 48 Wholesale trustees 606,098,780,855\n\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by its enabling legislation — it is an annual determination that plugs specific numbers into the framework established by the ASIC Supervisory Cost Recovery Levy Act 2017 and Regulations 2017. The scope has not expanded beyond setting sub-sector populations and metrics for levy calculation for the specified financial year."},"complexity_factors":["Short instrument (only 7 sections)","Minimal defined terms (only 2 definitions in section 4, relying on external Regulations)","Simple tabular structure for the substantive content (sections 6 and 7)","No nested conditional logic or exceptions","Heavy reliance on external legislation (ASIC Supervisory Cost Recovery Levy Act 2017 and Regulations 2017) for definitions and calculation methodology — the instrument itself just plugs in the numbers","Retrospective effect provisions require cross-referencing to parent Act (section 2(2))"],"plain_english_summary":"This instrument sets the levies ASIC will recover from 48 categories of regulated entities for the 2019–20 financial year, from major banks and exchanges to individual auditors and small credit providers. \n\nIt lists how many entities are in each category and the “sub‑sector metric” used to calculate charges (headcounts or activity measures like transaction value or message volume), so it directly determines how much each sector pays that year."},"flash_summary":{"complexity_score":4,"scope_assessment":{"changed":false,"description":"This instrument does not alter the statutory scope of the levy regime; it implements the Regulations by specifying the annual sub-sector populations and applicable metrics for 2019–20 (ss.5–7). It neither creates new levy categories nor changes the definitions in the Regulations; it simply supplies the year-specific parameters used to calculate levies."},"complexity_factors":["Large number of distinct sub-sectors (48 items) to map to levy populations and metrics (Part 2, items in tables at ss.6–7).","Mixed metric types across sub-sectors: simple counts, large monetary bases, transaction/message counts, and dual metrics for some items (s.7 table: e.g. messages/lots, messages/transactions).","Cross-references to primary legislation and Regulations (authority under s.73 of the Regulations; commencement and disallowance rules referencing s.11 of the Act) increase interpretive steps (ss.2–3).","Potential retrospective operation flagged by reference to subsection 9(9) of the Act creates timing and compliance uncertainty (s.2 Note 2).","Delegated decision-making: instrument made by an ASIC delegate (signature line) rather than Parliament, requiring practitioners to trace delegation and administrative discretion (instrument preamble and s.3).","Operational reliance on definitions in the Regulations: identification of who pays depends on many externally defined terms rather than the instrument itself (s.4(b)).","Tabular data precision and formatting: large numeric values and mixed units increase risk of implementation or calculation error (s.7 tables)."],"plain_english_summary":"This instrument lists the entity counts and the numeric metrics ASIC will use to calculate supervisory cost-recovery levies for the 2019–20 year. It names each regulated sub‑sector, the population for that sub‑sector, and the metric used to apportion basic and graduated levy components. It affects all listed financial-sector participants because those figures determine levy shares, and therefore who pays and how much under the ASIC Supervisory Cost Recovery Levy framework."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073","history":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2020-1073/documents"}}