34Operators of investor directed portfolio services

#### 34 Operators of investor directed portfolio services (1) A leviable entity forms part of the operators of investor directed portfolio services sub‑sector in a financial year if, at any time in the financial year, the entity holds an Australian financial services licence that authorises the holder to operate an IDPS (within the meaning of section 21 of ASIC Class Order \[CO 13/763\]). Levy component (2) The amount of a leviable entity’s levy component in respect of the sub‑sector for a financial year is the sum of: (a) the minimum levy component for the sub‑sector; and (b) the graduated levy component for the entity for the sub‑sector. > Note: For the graduated levy component, see section 10. Entity metric (3) The leviable entity’s entity metric for the sub‑sector for the financial year is the sum of the following amounts: (a) the amount of gross revenue received from IDPS activities undertaken under the entity’s licence in the financial year; (b) any amount (to the extent that it is not covered under paragraph (a)) paid or payable in the financial year from the IDPS for the performance of obligations imposed on an entity as an operator of the IDPS (even if those obligations are performed by another entity). (4) Revenue is to be calculated for the purposes of this section in accordance with accounting standards in force at the relevant time (even if the standard does not otherwise apply to the financial year or some or all of the entities concerned). (5) The minimum levy component for the sub‑sector is $10,000.