35Responsible entities

#### 35 Responsible entities (1) A leviable entity forms part of the responsible entities 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 a registered scheme. Levy component (2) The amount of a leviable entity’s levy component in respect of the sub‑sector for the financial year is the sum of: (a) the minimum levy component for the sub‑sector; and (b) if the entity’s entity metric for the sub‑sector for the financial year exceeds the minimum levy threshold—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 total value of assets in all registered schemes operated by the entity at the end of the financial year, disregarding: (a) any assets that are an interest in another registered scheme operated by the entity; and (b) if the entity also forms part of the wholesale trustees sub‑sector in the financial year—any assets that are an interest in an unregistered managed investment scheme issued by the entity. (4) However: (a) there is a pro‑rata of the entity metric; and (b) for the purposes of section 11, the number of counted days is the number of days in the financial year on which the leviable entity holds a licence of the kind mentioned in subsection (1). (5) The minimum levy component for the sub‑sector is $7,000. (6) The minimum levy threshold for the sub‑sector is $10,000,000.