55Tier 2 clearing and settlement facility operators

#### 55 Tier 2 clearing and settlement facility operators (1) A leviable entity forms part of the Tier 2 clearing and settlement facility operators sub‑sector in a financial year if, at any time in the financial year, the entity holds an Australian CS facility licence that was granted under subsection 824B(2) of the Corporations Act 2001 in relation to a clearing and settlement facility that: (a) is systemically important in Australia; and (b) has no strong connection to the Australian financial system. 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 facility; or (b) if the entity operated 2 or more clearing and settlement facilities of the kind mentioned in subsection (1) in the financial year—the sum of the days worked out under paragraph (a) for each of those facilities.