{"id":"F2020L01478","name":"ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2020/1074","slug":"asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":440679,"registerId":"F2020L01478-fast-fetch-1775956232312","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 2020/1074","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 2020/1074\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](#_Toc56528538)\n\n[1 Name of legislative instrument](#_Toc56528539)\n\n[2 Commencement and date of effect](#_Toc56528540)\n\n[3 Authority](#_Toc56528541)\n\n[4 Definitions](#_Toc56528542)\n\n[Part 2—Determination](#_Toc56528543)\n\n[5 Applicable financial year](#_Toc56528544)\n\n[6 ASIC’s regulatory costs](#_Toc56528545)\n\n[7 Attribution of ASIC’s regulatory costs to each sub-sector](#_Toc56528546)\n\n \n\nPart 1—Preliminary\n\n1 Name of legislative instrument\n\nThis is the ASIC (Supervisory Cost Recovery Levy—Regulatory Costs) Instrument 2020/1074.\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 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 2019–20 financial year.\n\n6 ASIC’s regulatory costs\n\nASIC’s regulatory costs for the financial year are $320,333,169.\n\n7 Attribution of ASIC’s regulatory costs to each sub-sector\n\nColumn 3 of the table specifies the extent to which ASIC’s regulatory costs are attributable to the sub-sector specified in column 2 of the table.\n\n \n\n| Column 1 | Column 2 | Column 3 |\n| --- | --- | --- |\n| Item | Sub-sectors | Extent to which regulatory costs are attributable to the   sub-sector ($) |\n| 1 | Auditors of disclosing entities | 7,230,230 |\n| 2 | Australian derivative trade repository operators | 405,865 |\n| 2A | Benchmark administrators | 431,139 |\n| 3 | Corporate advisors | 4,677,645 |\n| 4 | Credit intermediaries | 6,891,829 |\n| 5 | Credit providers | 27,307,232 |\n| 6 | Credit rating agencies | 245,059 |\n| 7 | Custodians | 558,233 |\n| 8 | Deposit product providers | 3,090,298 |\n| 8AA | Entities subject to close and continuous monitoring | 6,354,427 |\n| 8A | Established specialised market operators | 587,790 |\n| 9 | Exempt CS facility operators | 5,217 |\n| 10 | Exempt market operators | 32,777 |\n| 11 | Insurance product distributors | 3,875,918 |\n| 12 | Insurance product providers | 18,130,234 |\n| 13 | Large futures exchange operators | 1,512,566 |\n| 14 | Large futures exchange participants | 5,101,159 |\n| 15 | Large proprietary companies | 3,931,738 |\n| 16 | Large securities exchange operators | 4,191,658 |\n| 17 | Large securities exchange participants | 19,849,379 |\n| 18 | Licensees that provide only general advice to retail clients or wholesale clients | 2,088,961 |\n| 19 | Licensees that provide personal advice on relevant financial products to retail clients | 56,189,146 |\n| 20 | Licensees that provide personal advice to only wholesale clients | 47,579 |\n| 21 | Licensees that provide personal advice to retail clients on only products that are not relevant financial products | 1,264,177 |\n| 22 | Listed corporations | 51,021,031 |\n| 23 | Managed discretionary account providers | 1,091,565 |\n| 24 | Margin lenders | 128,972 |\n| 24A | New specialised market operators | 44,714 |\n| 25 | Operators of investor directed portfolio services | 705,271 |\n| 25A | Operators of notified foreign passport funds and regulated former notified funds | 0 |\n| 26 | Overseas market operators | 236,337 |\n| 27 | Over-the-counter traders | 9,660,547 |\n| 28 | Payment product providers | 1,315,252 |\n| 29 | Public companies (unlisted) | 4,954,663 |\n| 30 | Registered company auditors | 3,097,293 |\n| 31 | Registered liquidators | 6,138,870 |\n| 32 | Responsible entities | 23,768,714 |\n| 33 | Retail over-the-counter derivatives issuers | 10,384,059 |\n| 34 | Risk management product providers | 281,160 |\n| 35 | Securities dealers | 1,390,596 |\n| 36 | Small and medium amount credit providers | 2,023,090 |\n| 38 | Small futures exchange operators | 483,624 |\n| 39 | Small securities exchange operators | 470,482 |\n| 40 | Small securities exchange operators with self-listing function only | 1,985 |\n| 41 | Superannuation trustees | 23,815,577 |\n| 42 | Tier 1 clearing and settlement facility operators | 1,936,457 |\n| 43 | Tier 2 clearing and settlement facility operators | 219,484 |\n| 44 | Tier 3 clearing and settlement facility operators | 99,067 |\n| 45 | Tier 4 clearing and settlement facility operators | 7,202 |\n| 46 | Traditional trustee company service providers | 418,159 |\n| 47 | Wholesale electricity dealers | 28,220 |\n| 48 | Wholesale trustees | 2,610,522 |\n\n\n \n","sortOrder":0}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"This instrument implements the Act’s cost‑allocation function for the 2019–20 year by recording the total regulatory cost and attributing dollar amounts to statutory sub‑sectors. It does not alter which activities or entities fall within the levy scheme; it depends on the Act for definitions and leaves per‑entity levy calculation and collection mechanisms to other instruments. It does allow for retrospective commencement as noted in s2."},"complexity_factors":["Large number of discrete sub‑sector categories (items up to 48) requiring granular allocations increases mapping work for administrators and industry.","Instrument relies on definitions and levy framework in the ASIC Supervisory Cost Recovery Levy Act 2017 (cross‑references from s4), so interpretation needs reference to the primary Act.","Made by an ASIC delegate under ASIC Act provision and contains commencement/retrospectivity options (s3, s2), requiring attention to effective date for liabilities.","Provides sector totals only (s7) — per‑entity apportionment, rates and billing procedures are handled in other instruments or processes, adding operational steps.","Fixed dollar allocations (s6–7) simplify arithmetic but create follow‑on compliance and payment burdens for numerous entities and for ASIC’s billing systems.","Presence of special numbered items and zero or very small allocations (e.g. item 25A = 0) requires precise mapping to statutory categories in practice."],"plain_english_summary":"This instrument fixes ASIC’s regulatory costs for 2019–20 at $320,333,169 and allocates that total in dollar amounts to named industry sub‑sectors (see s6–7). \n\nRegulated entities in the listed sub‑sectors are the ultimate payers because these sector totals feed the levies charged under the ASIC Supervisory Cost Recovery Levy Act 2017; the instrument is made by an ASIC delegate and can take retrospective effect (s2). It records sector totals only and does not set per‑entity rates or collection mechanics."},"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":3,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function intended by the ASIC Supervisory Cost Recovery Levy Act 2017 — making annual determinations of regulatory costs and their attribution to sub-sectors. It has not expanded beyond this narrow, technical purpose."},"complexity_factors":["Very short instrument (only 7 substantive sections)","Minimal defined terms (only 2 definitions in section 4, relying heavily on definitions in the parent Act)","Simple structure: preliminary matters, then a single determination with a dollar amount and an attribution table","No nested exceptions or conditional logic — the table in section 7 is a straightforward lookup mechanism","Single cross-reference to the parent Act for timing provisions (section 11)","Retrospective application possibility noted but not complex in operation"],"plain_english_summary":"ASIC’s cost-recovery determination allocates its $320.3 million 2019–20 regulatory bill across 48 financial-sector sub‑sectors and sets the basis for mandatory levies under the ASIC Supervisory Cost Recovery Levy Act 2017. Major attributions include financial advisers ($56.2m), listed companies ($51.0m), banks ($27.3m), super funds ($23.8m) and insurers ($18.1m). It enforces a “user pays” approach, so regulated firms — and ultimately their customers — fund ASIC’s supervision."}},"importantCases":[],"_links":{"self":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074","history":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074/history","analysis":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074/analysis","conflicts":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074/conflicts","importantCases":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074/important-cases","documents":"/api/acts/asic-supervisory-cost-recovery-levy-regulatory-costs-instrument-2020-1074/documents"}}