{"id":"F2019L01486","name":"ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2019/1160","slug":"asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":440298,"registerId":"F2019L01486-fast-fetch-1775955979491","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 2019/1160","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—Regulatory Costs) Instrument 2019/1160\n\nI, Emily Hodgson, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.\n\n \n\nDate 20 November 2019\n\n \n\n \n\nEmily Hodgson\n\n \n\nContents\n\n[Part 1—Preliminary](#_Toc25146481)\n\n[1 Name of legislative instrument](#_Toc25146482)\n\n[2 Commencement](#_Toc25146483)\n\n[3 Authority](#_Toc25146484)\n\n[4 Definitions](#_Toc25146485)\n\n[Part 2—Determination](#_Toc25146486)\n\n[5 Applicable financial year](#_Toc25146487)\n\n[6 ASIC’s regulatory costs](#_Toc25146488)\n\n[7 Attribution of ASIC’s regulatory costs to each sub-sector](#_Toc25146489)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2019/1160.\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 10(8) 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 2018–19 financial year.\n\n6 ASIC’s regulatory costs\n\nASIC’s regulatory costs for the financial year are $276,711,435.\n\n7 Attribution of ASIC’s regulatory costs to each sub-sector\n\nColumn 3 of the table specifies the extent to which ASIC’s regulatory costs are attributable to the sub-sector specified in column 2 of the table.\n\n \n\n| Column 1 | Column 2 | Column 3 |\n| --- | --- | --- |\n| Item | Sub-sectors | Extent to which regulatory costs are attributable to the   sub-sector ($) |\n| 1 | Auditors of disclosing entities | 5,627,610 |\n| 2 | Australian derivative trade repository operators | 486,161 |\n| 2A | Benchmark administrators | 559,568 |\n| 3 | Corporate advisors | 5,915,974 |\n| 4 | Credit intermediaries | 6,577,962 |\n| 5 | Credit providers | 19,754,450 |\n| 6 | Credit rating agencies | 167,081 |\n| 7 | Custodians | 945,073 |\n| 8 | Deposit product providers | 2,858,251 |\n| 8AA | Entities subject to close and continuous monitoring | 3,664,715 |\n| 8A | Established specialised market operators | 617,905 |\n| 9 | Exempt CS facility operators | 28,512 |\n| 10 | Exempt market operators | 492,569 |\n| 11 | Insurance product distributors | 2,110,381 |\n| 12 | Insurance product providers | 11,579,231 |\n| 13 | Large futures exchange operators | 1,260,343 |\n| 14 | Large futures exchange participants | 2,168,563 |\n| 15 | Large proprietary companies | 5,060,480 |\n| 16 | Large securities exchange operators | 4,466,040 |\n| 17 | Large securities exchange participants | 16,242,231 |\n| 18 | Licensees that provide only general advice to retail clients or wholesale clients | 737,284 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 33,027,674 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 180,643 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 124,514 |\n| 22 | Listed corporations | 63,825,163 |\n| 23 | Managed discretionary account providers | 1,425,540 |\n| 24 | Margin lenders | 126,693 |\n| 24A | New specialised market operators | 127,301 |\n| 25 | Operators of investor directed portfolio services | 1,635,652 |\n| 25A | Operators of notified foreign passport funds and regulated former notified funds | 0 |\n| 26 | Overseas market operators | 831,765 |\n| 27 | Over-the-counter traders | 7,877,462 |\n| 28 | Payment product providers | 920,058 |\n| 29 | Public companies (unlisted) | 1,630,952 |\n| 30 | Registered company auditors | 850,437 |\n| 31 | Registered liquidators | 7,338,133 |\n| 32 | Responsible entities | 25,894,245 |\n| 33 | Retail over-the-counter derivatives issuers | 4,848,442 |\n| 34 | Risk management product providers | 602,756 |\n| 35 | Securities dealers | 2,465,105 |\n| 36 | Small and medium amount credit providers | 1,318,708 |\n| 38 | Small futures exchange operators | 422,977 |\n| 39 | Small securities exchange operators | 671,360 |\n| 40 | Small securities exchange operators with self-listing function only | 20,386 |\n| 41 | Superannuation trustees | 17,234,693 |\n| 42 | Tier 1 clearing and settlement facility operators | 1,868,266 |\n| 43 | Tier 2 clearing and settlement facility operators | 202,943 |\n| 44 | Tier 3 clearing and settlement facility operators | 92,247 |\n| 45 | Tier 4 clearing and settlement facility operators | 15,688 |\n| 46 | Traditional trustee company service providers | 117,345 |\n| 47 | Wholesale electricity dealers | 82,122 |\n| 48 | Wholesale trustees | 9,611,781 |\n\n\n \n","sortOrder":0}],"analysis":{"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"},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"The instrument performs exactly the function intended by the ASIC Supervisory Cost Recovery Levy Act 2017 — determining regulatory costs and attributing them to sub-sectors for a specific financial year. It is a routine annual determination without scope creep."},"complexity_factors":["Very short document (7 operative sections)","Only 2 defined terms in the interpretation section (section 4)","Simple tabular structure for cost allocation with no conditional logic","No cross-references to other legislation beyond basic authority and commencement provisions","Straightforward arithmetic allocation — no formulas, exceptions, or nested conditions","Single financial year scope with no ongoing or variable mechanisms"],"plain_english_summary":"This instrument sets out ASIC’s 2018–19 regulatory bill ($276.7 million) and allocates how much of that cost each part of the financial sector must pay via the Supervisory Cost Recovery Levy. It primarily affects entities ASIC regulates who pay the levy — from listed companies and banks to advisers, insurers, super funds and market operators.\n\nWhy it matters: it makes industry, not taxpayers, fund ASIC’s work (listed corporations pay the most — $63.8m; financial advisers $33m), and it can operate retrospectively under the parent Act."},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument does not change the Act's substantive scope. It implements the Act by determining the applicable financial year (s5), declaring ASIC's regulatory costs for that year (s6) and attributing those costs to listed sub‑sectors in dollar amounts (s7), under the delegate power in s12A(6) (see s3)."},"complexity_factors":["Fixed total and per‑sub‑sector dollar allocations (s6, s7) — administrative simplicity but many line items to process","Large number of distinct sub‑sectors (48 listed items) increases billing and record‑keeping workload","Statutory authority via delegated power (s3 referencing s12A(6)) — limited legislative drafting complexity but relies on underlying Act definitions","Applicability limited to a single financial year (s5) — one‑off temporal scope","Potential retrospective operation noted (Note 2 re s10(8)) — legal timing and notice complexity for affected entities","Frequent cross‑references to terms defined in the Act (4(b)) — reliance on external definitions for interpretation","Numeric specificity reduces interpretive discretion but raises risk of allocation disputes or administrative errors","No formulas or proportional metrics in this instrument — allocation is nominal, so verifying fairness requires outside data"],"plain_english_summary":"**What it does:** This instrument sets ASIC's regulatory costs for 2018–19 at $276,711,435 and allocates dollar amounts of that total to named financial sub‑sectors, determining which industry groups will be charged levies (see ss5–7). Made by an ASIC delegate under s12A(6), the instrument fixes each sub‑sector's share and can operate retrospectively (s10(8)). It matters because it decides who pays and establishes the numerical basis for levy billing and compliance costs."}},"importantCases":[],"_links":{"self":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160","history":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2019-1160/documents"}}