{"id":"F2018L01591","name":"ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2018/1062","slug":"asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2018-1062","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":439840,"registerId":"F2018L01591-fast-fetch-1775955710645","compilationNumber":null,"startDate":"2026-04-12","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2018/1062","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\ntitle: ASIC Template (Principal Legislative Instruments - April 2016)\n---\n\n![Commonwealth Coat of Arms and ASIC logo](image.001.jpeg)\n\nASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2018/1062\n\nI, Emily Hodgson, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate  20 November 2018\n\n \n\n \n\nEmily Hodgson\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc530381012)\n\n[1 Name of legislative instrument](#_Toc530381013)\n\n[2 Commencement](#_Toc530381014)\n\n[3 Authority](#_Toc530381015)\n\n[4 Definitions](#_Toc530381016)\n\n[Part 2—Determination](#_Toc530381017)\n\n[5 Applicable financial year](#_Toc530381018)\n\n[6 ASIC’s regulatory costs](#_Toc530381019)\n\n[7 Attribution of ASIC’s regulatory costs to each sub-sector](#_Toc530381020)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2018/1062.\n\n2 Commencement\n\nThis 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 subsection 12A(6) of the Australian Securities and Investments Commission Act 2001 for the purposes of subsection 10(2) of the ASIC Supervisory Cost Recovery Levy Act 2017.\n\n4 Definitions\n\nIn this instrument:\n\n(a) Act means the ASIC Supervisory Cost Recovery Levy Act 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 Act;\n\nhas the same meaning in this instrument as in the Act.\n\nPart 2—Determination\n\n5 Applicable financial year\n\nThis determination applies to the 2017 – 2018 financial year.\n\n6 ASIC’s regulatory costs\n\nASIC’s regulatory costs for the financial year are $236,582,384.\n\n7 Attribution of ASIC’s regulatory costs to each sub-sector\n\nColumn 3 of the table specifies the extent to which ASIC’s regulatory costs are attributable to the sub-sector specified in column 2 of the table.\n\n \n\n| Column 1 | Column 2 | Column 3 |\n| --- | --- | --- |\n| Item | Sub-sectors | Extent to which regulatory costs are attributable to the   sub-sector ($) |\n| 1 | Auditors of disclosing entities | 5,666,484 |\n| 2 | Australian derivative trade repository operators | 239,750 |\n| 3 | Corporate advisors | 4,766,509 |\n| 4 | Credit intermediaries | 5,739,767 |\n| 5 | Credit providers | 24,124,482 |\n| 6 | Credit rating agencies | 231,758 |\n| 7 | Custodians | 740,788 |\n| 8 | Deposit product providers | 3,114,271 |\n| 9 | Exempt CS facility operators | 15,983 |\n| 10 | Exempt market operators | 1,134,816 |\n| 11 | Insurance product distributors | 943,422 |\n| 12 | Insurance product providers | 13,131,610 |\n| 13 | Large futures exchange operators | 1,435,573 |\n| 14 | Large futures exchange participants | 3,321,123 |\n| 15 | Large proprietary companies | 4,473,398 |\n| 16 | Large securities exchange operators | 3,800,648 |\n| 17 | Large securities exchange participants | 14,724,923 |\n| 18 | Licensees that provide only general advice to retail clients or wholesale clients | 600,681 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 25,634,226 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 826,123 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 1,198,621 |\n| 22 | Listed corporations | 50,415,253 |\n| 23 | Managed discretionary account providers | 742,236 |\n| 24 | Margin lenders | 148,261 |\n| 25 | Operators of investor directed portfolio services | 1,221,800 |\n| 26 | Overseas market operators | 519,458 |\n| 27 | Over-the-counter traders | 3,845,906 |\n| 28 | Payment product providers | 654,552 |\n| 29 | Public companies (unlisted) | 2,341,376 |\n| 30 | Registered company auditors | 929,499 |\n| 31 | Registered liquidators | 6,870,373 |\n| 32 | Responsible entities | 22,769,635 |\n| 33 | Retail over-the-counter derivatives issuers | 4,631,122 |\n| 34 | Risk management product providers | 286,118 |\n| 35 | Securities dealers | 1,482,730 |\n| 36 | Small amount credit providers | 1,295,509 |\n| 37 | Small derivative market operators | 479,500 |\n| 38 | Small futures exchange operators | 251,146 |\n| 39 | Small securities exchange operators | 536,478 |\n| 40 | Small securities exchange operators with self-listing function only | 23,975 |\n| 41 | Superannuation trustees | 9,592,832 |\n| 42 | Tier 1 clearing and settlement facility operators | 1,614,315 |\n| 43 | Tier 2 clearing and settlement facility operators | 191,800 |\n| 44 | Tier 3 clearing and settlement facility operators | 71,925 |\n| 45 | Tier 4 clearing and settlement facility operators | 15,983 |\n| 46 | Traditional trustee company service providers | 296,522 |\n| 47 | Wholesale electricity dealers | 109,516 |\n| 48 | Wholesale trustees | 9,379,608 |\n\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument performs exactly the narrow function intended by the ASIC Supervisory Cost Recovery Levy Act 2017: making an annual determination of regulatory costs and their attribution to sub-sectors. It has not expanded beyond this specific statutory purpose."},"complexity_factors":["Very short instrument (only 7 substantive sections)","Minimal defined terms (only 2 definitions in section 4, relying heavily on parent Act definitions)","Simple structure: preliminary matters, then a single determination with a table","No conditional logic, exceptions, or cross-referencing complexity","Primary content is a straightforward 48-row table allocating dollar amounts to industry categories","Commencement provisions reference external legislation but remain mechanically simple"],"plain_english_summary":"This cost-recovery determination records ASIC’s regulatory spending for 2017–18 at $236.6 million and allocates that total across 48 financial‑services sub‑sectors, showing how much oversight cost is attributed to each group.  \n\nIt affects banks, insurers, advisers, trustees, listed companies and other businesses that ultimately pay ASIC’s supervisory levies — effectively the industry “bill” for regulation (e.g. listed companies $50.4m; retail financial advisers $25.6m; smallest operators ~$15,983)."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument implements the cost-recovery mechanism required by the ASIC Supervisory Cost Recovery Levy Act 2017 for the 2017–18 year by stating the total regulatory cost and attributing it to sub‑sectors (see ss5–7). It does not expand or narrow the classes of entities subject to levy, nor does it alter statutory definitions or methodology in the Act; it merely specifies the dollar amounts for that financial year."},"complexity_factors":["Single-year, single-purpose determination: specifies total amount and dollar allocations for 2017–18 only (s5, s6, s7).","Granular allocation: cost is split across a large number of sub‑sectors (48 line items), increasing administrative detail for levy calculation (s7, table).","Dependence on external definitions and commencement rules: uses terms defined in the ASIC Supervisory Cost Recovery Levy Act 2017 and relies on that Act for commencement and disallowance rules (s2, s3, s4; notes referencing s9(9) and s11).","No published allocation formula in the instrument: fixed dollar amounts are provided rather than a replicable formula, so transparency of underlying cost attribution depends on ASIC records and methodology outside this instrument (s7).","Potential retrospective effect: instrument may operate retrospectively within limits set by the Act, affecting accounting and levy timing (Note 2 referencing s9(9) of the Act).","Administrative discretion concentrated in ASIC delegate: instrument is made by a delegate, so implementation and any accompanying guidance depend on ASIC’s administrative processes (instrument heading and s3)."],"plain_english_summary":"This instrument sets ASIC’s total regulatory cost for 2017–18 ($236,582,384) and allocates that amount across named regulatory sub‑sectors so the Supervisory Cost Recovery Levy can be raised. It was made by an ASIC delegate under the ASIC Act.\n\nIt affects entities in the listed sub‑sectors (for example, listed companies, licensees, trustees and exchanges) who will bear levies based on these allocations; it relies on Act definitions and allows retrospective effect in limited cases."},"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-regulatory-costs-instrument-2018-1062","history":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2018-1062/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2018-1062/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2018-1062/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2018-1062/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2018-1062/documents"}}