5Performance of ASIC functions

#### 5 Performance of ASIC functions Matters with hourly fee rate (1) For section 5 of the Act, the fee set out in subregulation (3) is prescribed for the performance by a member of ASIC, or an ASIC staff member, of the following functions under subsection 798C(2) of the Corporations Act: (a) reviewing and providing consent to an application for waiver of an operating rule relating to a clearing and settlement facility operated by a market licensee or an associate of the market licensee in respect of the securities of the market licensee; (b) undertaking an inquiry about compliance with any operating rule of the clearing and settlement facility mentioned in paragraph (a) which relates to securities of the market licensee; (c) taking action to ensure compliance with the operating rules of the clearing and settlement facility mentioned in paragraph (a) following an inquiry under paragraph (b); (d) an inquiry about compliance with an arrangement of the kind mentioned in subsection 798C(2) of the Corporations Act; (e) taking action to ensure compliance with the arrangement following an inquiry under paragraph (d). > Note 1: These functions are mentioned in paragraph (k) of the definition of chargeable matter in subsection 4(1) of the Act. Expressions that are defined in the Corporations Act have the same meanings in these Regulations: see subsection 4(2) of the Act. > Note 2: The fees in this subregulation are subject to limits imposed by section 6 of the Act. > Note 3: Paragraph 7(1)(k) of the Act identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred. (2) For section 5 of the Act, the fee set out in subregulation (3) is prescribed for the performance by a member of ASIC, or an ASIC staff member, of the following functions in accordance with listing rules mentioned in subsection 798C(4) of the Corporations Act: (a) processing and considering the admission of a licensee to a market’s official list; (b) processing and considering an application for waiver of a listing rule applying to the market licensee; (c) processing and considering the quotation of additional securities of the market licensee; (d) processing and considering a transaction involving a related party of the market licensee within the meaning of section 228 of the Corporations Act; (e) processing and considering an application for requotation of securities of the market licensee; (f) processing and considering a transaction relating to the proposed change of the nature or scale of activities of the market licensee; (g) processing and considering a transaction relating to a proposed merger or acquisition involving the market licensee; (h) conducting an inquiry about compliance by the market licensee with a listing rule; (i) taking action to ensure compliance with the listing rule following an inquiry under paragraph (h). > Note 1: These functions are mentioned in paragraph (k) of the definition of chargeable matter in subsection 4(1) of the Act. Expressions that are defined in the Corporations Act have the same meanings in these Regulations: see subsection 4(2) of the Act. > Note 2: The fees in this subregulation are subject to limits imposed by section 6 of the Act. > Note 3: Paragraph 7(1)(k) of the Act identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred. (2A) For the purposes of section 5 of the Act, the fee set out in subregulation (3) is prescribed for the performance by ASIC of a function conferred on ASIC by the operating rules of a market as required by subsection 798DA(2) of the Corporations Act. > Note 1: These functions are mentioned in subparagraph (k)(iii) of the definition of chargeable matter in subsection 4(1) of the Act. Expressions that are defined in the Corporations Act have the same meanings in these Regulations: see subsection 4(2) of the Act. > Note 2: The fees in this subregulation are subject to limits imposed by section 6 of the Act. > Note 3: Paragraph 7(1)(k) of the Act identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred. (2B) For the purposes of section 5 of the Act, the fee set out in subregulation (3) is prescribed for the performance by ASIC of a function required or permitted by regulations made for the purposes of subsection 798E(1) of the Corporations Act. > Note 1: These functions are mentioned in paragraph (l) of the definition of chargeable matter in subsection 4(1) of the Act. Expressions that are defined in the Corporations Act have the same meanings in these Regulations: see subsection 4(2) of the Act. > Note 2: Paragraph 7(1)(l) of the Act identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred. (3) The fee is:  (3A) If the amount worked out under subregulation (3) is an amount of dollars and cents: (a) if the amount of cents is at least 50 cents—the amount is to be rounded up to the nearest dollar; or (b) otherwise—the amount is to be rounded down to the nearest dollar. Other matters (4) For section 5 of the Act, if: (a) ASIC performs 1 or more functions in a period described in subregulation (5) in accordance with subsection 798C(2) or (4) of the Corporations Act; and (b) none of the functions is mentioned in subregulation (1) or (2); a fee of $5 000 is prescribed for all of the functions of that kind performed in the period. > Note 1: These functions are mentioned in paragraph (k) of the definition of chargeable matter in subsection 4(1) of the Act. Expressions that are defined in the Corporations Act have the same meanings in these Regulations: see subsection 4(2) of the Act. > Note 2: The fees in this subregulation are subject to limits imposed by section 6 of the Act. > Note 3: Paragraph 7(1)(k) of the Act identifies the person liable to pay the fee and the time at which the liability to pay the fee is incurred. (5) For paragraph (4)(a), the periods are: (a) the period starting when this subregulation commences and ending at the end of 30 April 2002; and (b) the period starting on 1 May 2002 and ending at the end of 30 June 2002; and (c) each subsequent period of 2 calendar months.