Section 7 - ASIC Supervisory Cost Recovery Levy Act 2017 - Definitions

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7 Definitions

In this Act:

ASIC means the Australian Securities and Investments Commission.

audit entity means:

(a) a registered company auditor (within the meaning of the Corporations Act 2001); or
(b) a partnership or unincorporated association that is an audit firm (within the meaning of the Corporations Act 2001); or
(c) an audit company (within the meaning of the Corporations Act 2001); or
(d) an authorised audit company (within the meaning of the Corporations Act 2001); or
(e) an individual auditor (within the meaning of the Corporations Act 2001); or
(f) a person regulated by ASIC who is in a class of persons prescribed by the regulations.

company‑like entity means:

(a) a Part 5.1 body (within the meaning of the Corporations Act 2001); or
(b) a Part 5.7 body (within the meaning of the Corporations Act 2001); or
(c) a body (other than a company) that is a disclosing entity under subsection 111AC(1) of the Corporations Act 2001; or
(d) a person regulated by ASIC who is in a class of persons prescribed by the regulations.

credit services entity means:

(a) a licensee within the meaning of the National Consumer Credit Protection Act 2009; or
(b) a person who is exempt from the operation of section 29 of the National Consumer Credit Protection Act 2009 (which is about the requirement to hold a credit licence) under any of the following provisions of that Act:
(i) paragraph 109(1)(a);
(ii) paragraph 109(3)(a);
(iii) paragraph 110(a);
but only if the person is required to notify ASIC that the person is so exempt; or
(c) a person who contravenes section 29 of the National Consumer Credit Protection Act 2009; or
(d) a person regulated by ASIC who is in a class of persons prescribed by the regulations.

exempt entity, for a financial year, means a regulated entity that is in a class of persons prescribed by the regulations for the financial year.

financial services entity means:

(a) a financial services licensee (within the meaning of the Corporations Act 2001); or
(b) an RSE licensee; or
(c) a person who is exempt from the requirement in section 911A of the Corporations Act 2001 to hold an Australian financial services licence for a financial service under any of the following provisions of that Act:
(i) subsection 911A(2);
(ii) paragraph 926A(2)(a);
(iii) paragraph 926B(1)(a);
but only if the person is required to notify ASIC that the person is so exempt; or
(d) a person who contravenes subsection 911A(1) of the Corporations Act 2001; or
(e) a person regulated by ASIC who is in a class of persons prescribed by the regulations.

(a) a market licensee (within the meaning of the Corporations Act 2001); or (b) a person who operates a financial market that is exempt under section 791C from the operation of Part 7.2 of the Corporations Act 2001; or (c) a person who is exempt under paragraph 907D(2)(a) of the Corporations Act 2001 from the operation of section 905A of that Act, but only if the person is required to notify ASIC that the person is so exempt; or (d) a person who: (i) is a participant (within the meaning of the Corporations Act 2001) in a licensed market; or (ii) would be such a participant if paragraph (b) of the definition of participant in section 9 of that Act covered a person who is allowed to indirectly participate in the facility or market concerned; or (e) a CS facility licensee (within the meaning of the Corporations Act 2001); or (f) a person who operates a clearing and settlement facility that is exempt under section 820C from the operation of Part 7.3 of the Corporations Act 2001; or (g) a derivative trade repository licensee (within the meaning of the Corporations Act 2001); or (ga) a benchmark administrator licensee (within the meaning of the Corporations Act 2001); or (h) a person who contravenes section 791A of the Corporations Act 2001 (which is about the requirement to hold a market licence); or (i) a person who contravenes section 820A of the Corporations Act 2001 (which is about the requirement to hold an Australian CS facility licence); or (j) a person who contravenes section 905A of the Corporations Act 2001 (which is about the requirement for certain derivative trade repositories to be licensed); or (ja) a person who: (i) administers a significant financial benchmark (within the meaning of the Corporations Act 2001); and (ii) contravenes subsection 908BA(1) of that Act (which is about the requirement to hold a benchmark administrator licence) in relation to that financial benchmark; or (k) a person regulated by ASIC who is in a class of persons prescribed by the regulations.