{"id":"F2021L01563","name":"ASIC (Supervisory Cost Recovery Levy—Annual Determination) Instrument 2021/0936","slug":"asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":441061,"registerId":"F2021L01563-fast-fetch-1775956480959","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 2021/0936","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 2021/0936\n\nI, Richard Goldman, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 15 November 2021\n\n \n\n \n\n \n\n \n\n \n\nRichard Goldman\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 2021/0936.\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; and\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 2020-21 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 | 123 |\n| 2 | Australian derivative trade repository operators | 1 |\n| 2A | Benchmark administrators | 2 |\n| 3 | Corporate advisors | 344 |\n| 4 | Credit intermediaries | 4,413 |\n| 5 | Credit providers | 1,064 |\n| 6 | Credit rating agencies | 6 |\n| 7 | Custodians | 1,188 |\n| 8 | Deposit product providers | 199 |\n| 8A | Established specialised market operators | 20 |\n| 9 | Exempt CS facility operators | 1 |\n| 10 | Exempt market operators | 5 |\n| 11 | Insurance product distributors | 3,345 |\n| 12 | Insurance product providers | 94 |\n| 13 | Large futures exchange operators | 1 |\n| 14 | Large futures exchange participants | 37 |\n| 15 | Large proprietary companies | 9,480 |\n| 16 | Large securities exchange operators | 2 |\n| 17 | Large securities exchange participants | 66 |\n| 18 | Licensees that provide only general advice to retail or wholesale clients | 1,031 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 2,933 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 1,707 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 612 |\n| 22 | Listed corporations | 2,125 |\n| 23 | Managed discretionary account providers | 250 |\n| 24 | Margin lenders | 23 |\n| 24A | New specialised market operators | 1 |\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 | 26 |\n| 27 | Over-the-counter traders | 77 |\n| 28 | Payment product providers | 665 |\n| 29 | Public companies (unlisted) | 15,006 |\n| 30 | Registered company auditors | 3,657 |\n| 31 | Registered liquidators | 664 |\n| 32 | Responsible entities | 437 |\n| 33 | Retail over-the-counter derivatives issuers | 98 |\n| 34 | Risk management product providers | 69 |\n| 35 | Securities dealers | 1,109 |\n| 36 | Small and medium amount credit providers | 227 |\n| 38 | Small futures exchange operators | 1 |\n| 39 | Small securities exchange operators | 2 |\n| 40 | Small securities exchange operators with self-listing function only | 1 |\n| 41 | Superannuation trustees | 107 |\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 | 11 |\n| 47 | Wholesale electricity dealers | 40 |\n| 48 | Wholesale trustees | 1,742 |\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 576,192,544\n- 2 Australian derivative trade repository operators 365\n- 2A Benchmark administrators 676\n- 3 Corporate advisors 3,233,983,688\n- 4 Credit intermediaries 37,703\n- 5 Credit providers 623,068,948,040\n- 6 Credit rating agencies 1,095\n- 7 Custodians 1,188\n- 8 Deposit product providers 2,548,583,726,882\n- 8A Established specialised market operators 7,300\n- 9 Exempt CS facility operators 365\n- 10 Exempt market operators 1,261\n- 11 Insurance product distributors 3,345\n- 12 Insurance product providers 45,595,553,852\n- 13 Large futures exchange operators 365\n- 14 Large futures exchange participants 234,329,737 (messages)317,754,570 (lots)\n- 15 Large proprietary companies 9,480\n- 16 Large securities exchange operators 2,021,533,155,481\n- 17 Large securities exchange participants 4,834,061,562 (messages)1,004,880,152 (transactions)\n- 18 Licensees that provide only general advice to retail or wholesale clients 1,031\n- 19 Licensees that provide personal advice on relevant financial products to retail clients 18,704\n- 20 Licensees that provide personal advice to only wholesale clients 1,707\n- 21 Licensees that provide personal advice to retail clients on only products that are not relevant financial products 218,170\n- 22 Listed corporations 1,629,279,991,760\n- 23 Managed discretionary account providers 86,863\n- 24 Margin lenders 8,395\n- 24A New specialised market operators 365\n- 25 Operators of investor directed portfolio services 611,308,368\n- 25A Operators of notified foreign passport funds and regulated former notified funds 0\n- 26 Overseas market operators 9,150\n- 27 Over-the-counter traders 2,264\n- 28 Payment product providers 4,365,727,343\n- 29 Public companies (unlisted) 15,006\n- 30 Registered company auditors 3,657\n- 31 Registered liquidators 46,123\n- 32 Responsible entities 1,511,123,077,175\n- 33 Retail over-the-counter derivatives issuers 33,983\n- 34 Risk management product providers 22,666\n- 35 Securities dealers 173,915,008,233\n- 36 Small and medium amount credit providers 1,307,454,272\n- 38 Small futures exchange operators 97\n- 39 Small securities exchange operators 730\n- 40 Small securities exchange operators with self-listing function only 365\n- 41 Superannuation trustees 2,028,928,734,004\n- 42 Tier 1 clearing and settlement facility operators 1,460\n- 43 Tier 2 clearing and settlement facility operators 365\n- 44 Tier 3 clearing and settlement facility operators 365\n- 45 Tier 4 clearing and settlement facility operators 365\n- 46 Traditional trustee company service providers 4,015\n- 47 Wholesale electricity dealers 40\n- 48 Wholesale trustees 725,380,530,657\n\n\n \n","sortOrder":0}],"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"},"flash_summary":{"complexity_score":5,"scope_assessment":{"changed":false,"description":"This instrument does not change which activities or entities are within ASIC’s levy scheme; it specifies the numeric populations and sub‑sector metrics used to calculate levies for 2020–21 under the existing Regulations. It implements the Regulations’ levy formulas for that financial year by providing the data inputs (see s5, s6 and s7) rather than altering substantive coverage or legal definitions (see s4 and s3)."},"complexity_factors":["Large number of distinct sub‑sectors and items (48 items in tables) increasing mapping and administrative work (tables in s6 and s7).","Cross‑references to external instruments and definitions: relies on the Regulations for key definitions and the Act for commencement/disallowance rules (see ss 3 and 4; s2 references s11 of the Act).","Two different levy bases: separate basic levy component and graduated levy component metrics that must be combined under the Regulations (see s7 referencing ss 9(1) and 10(1) of the Regulations).","Mixed units and heterogeneous metrics in the tables (absolute counts, dollar values, and activity measures such as 'messages', 'lots', 'transactions') requiring unit‑consistent calculations and data sourcing (see entries for items 14, 17, and others in s7).","Possible retrospective effect and staged commencement options under the Act create timing and compliance uncertainty for affected entities (see s2 and accompanying notes).","Delegated administrative decision‑making: instrument made by ASIC delegate under delegated authority (signature block and s3), concentrating implementation discretion within ASIC processes.","Operational burden: verifying entity classification, reconciling registries and market data to the specified sub‑sector populations and metrics for levy notices."],"plain_english_summary":"This ASIC determination sets the numeric inputs ASIC will use to calculate the 2020–21 supervisory cost-recovery levies. It lists how many entities fall into each regulated sub‑sector and the metric values (the bases for the basic and graduated levy components) that feed into the levy formulas in the Regulations. It affects firms and other entities in the listed sub‑sectors because those numbers determine how much each sub‑sector contributes to ASIC’s recovered costs, and thus the levy each entity may pay."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by the enabling legislation: it sets the annual levy amounts for a specific financial year. It does not expand beyond the original statutory scheme established by the ASIC Supervisory Cost Recovery Levy Act 2017."},"complexity_factors":["Very short instrument (only 7 sections)","Minimal defined terms (only 2: 'Regulations' and a general incorporation by reference)","Simple structure: preliminary provisions, then two tables of data","No conditional logic or nested exceptions","Heavy reliance on external legislation (ASIC Supervisory Cost Recovery Levy Act 2017 and Regulations 2017) for actual calculation methodology—this instrument only provides the raw numbers","Tables contain 48 rows of data but this is quantitative complexity, not legal complexity"],"plain_english_summary":"This instrument sets ASIC’s 2020–21 charges to industry: it designates 48 business categories, records how many entities sit in each, and specifies the dollar metrics used to allocate ASIC’s supervisory costs. Levies combine a basic flat component and a graduated activity-based component.\n\nIt affects any ASIC‑regulated firm—banks, insurers, funds, brokers, advisers, credit providers and listed companies—and matters because it’s essentially the industry’s annual bill, allocating ASIC’s total recovery across sectors and firms by size or activity."}},"importantCases":[],"_links":{"self":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936","history":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-annual-determination-instrument-2021-0936/documents"}}