47Small securities exchange operators with self‑listing function only

#### 47 Small securities exchange operators with self‑listing function only (1) A leviable entity forms part of the small securities exchange operators with self‑listing function only sub‑sector in a financial year if, at any time in the financial year, the entity is the operator of a small securities (self‑listing) exchange. Entity metric (2) The leviable entity’s entity metric for the sub‑sector for the financial year is: (a) unless paragraph (b) applies—the number of days in the financial year on which the entity operated the exchange; or (b) if the entity operated 2 or more small securities (self‑listing) exchanges in the financial year—the sum of the days worked out under paragraph (a) for each of those exchanges. (3) A licensed market is a small securities (self‑listing) exchange, in relation to a financial year, if: (a) the market is not an overseas market; and (b) only ordinary shares of the market operator can be traded on the market; and (c) less than 10 million transactions in ordinary shares of the market operator are entered into on the market in the financial year.