Corporations (Financial Services Compensation Scheme of Last Resort—Special Levy) Determination 2025
1Corporations (Financial Services Compensation Scheme of Last Resort—Special Levy) Determination 2025
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title: Corporations (Financial Services Compensation Scheme of Last Resort) Special Levy Determination 2025
Corporations (Financial Services Compensation Scheme of Last Resort—Special Levy) Determination 2025
I, Daniel Mulino, Assistant Treasury and Minister for Financial Services, having been notified under subsection 1069F(3) of the Corporations Act 2001 (the Act) that a revised claims, fees and costs estimate for the 2025-26 levy period for the licensed personal advice sub‑sector could cause the sub-sector levy cap for the levy period and the sub-sector to be exceeded, and being satisfied of the matters set out in subsection 1069H(5) of the Act,
make the following determination.
Dated 11 December 2025
Dr Daniel Mulino
Assistant Treasurer Minister for Financial Services
Contents
Part 1—Preliminary
1 Name
2 Commencement
3 Authority
4 Definitions
Part 2—Special levy for 2025-26 levy period for several sub-sectors
5 Special levy imposition
6 Special levy—several sub-sectors
7 Total amount of special levy
Part 1—Preliminary
1 Name
This instrument is the Corporations (Financial Services Compensation Scheme of Last Resort—Special Levy) Determination 2025.
2 Commencement
(1) Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.
Commencement information
Column 1 Column 2 Column 3
Provisions Commencement Date/Details
The whole of this instrument The day after this instrument is registered.
Note: This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.
(2) Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.
3 Authority
This instrument is made under the Corporations Act 2001.
4 Definitions
Note: Expressions have the same meaning in this instrument as in the Corporations Act 2001 as in force from time to time—see paragraph 13(1)(b) of the Legislation Act 2003.
In this instrument:
2025-26 levy period means the 12-month period starting from 1 July 2025.
ASIC Levy Regulations means the ASIC Supervisory Cost Recovery Levy Regulations 2017.
claims handling and settling services providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 72AA(1) of the ASIC Levy Regulations.
credit intermediaries sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 25(1) of the ASIC Levy Regulations.
credit providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 26(1) of the ASIC Levy Regulations.
custodians sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by section 31 of the ASIC Levy Regulations.
deposit product providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 27(1) of the ASIC Levy Regulations.
insurance product distributors sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by section 70 of the ASIC Levy Regulations.
insurance product providers sub-sector means the sub-sector that, for the 2025‑26 levy period, has the meaning given by subsection 72(1) of the ASIC Levy Regulations.
large futures exchange participants sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 64(1) of the ASIC Levy Regulations.
large securities exchange participants sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 65(1) of the ASIC Levy Regulations.
licensees that provide only general advice to retail or wholesale clients sub‑sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by section 40 of the ASIC Levy Regulations.
licensees that provide personal advice on relevant financial products to retail clients sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 43(1) of the ASIC Levy Regulations.
licensees that provide personal advice to retail clients on only products that are not relevant financial products sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 42(1) of the ASIC Levy Regulations.
managed discretionary account providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 32(1) of the ASIC Levy Regulations.
margin lenders sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 23(1) of the ASIC Levy Regulations.
operators of investor directed portfolio services sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 34(1) of the ASIC Levy Regulations.
payment product providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 28(1) of the ASIC Levy Regulations.
responsible entities sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 35(1) of the ASIC Levy Regulations.
retail over‑the‑counter derivatives issuers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 61(1) of the ASIC Levy Regulations.
risk management product providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 71(1) of the ASIC Levy Regulations.
securities dealers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 67(1) of the ASIC Levy Regulations.
small and medium amount credit providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 24(1) of the ASIC Levy Regulations.
sub-sector has the same meaning as in the ASIC Levy Regulations.
superannuation trustees sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 36(1) of the ASIC Levy Regulations.
the Act means the Corporations Act 2001.
traditional trustee company service providers sub-sector means the sub-sector that, for the 2025-26 levy period, has the meaning given by subsection 33(1) of the ASIC Levy Regulations.
Part 2—Special levy for 2025-26 levy period for several sub‑sectors
5 Special levy imposition
Under subsection 1069H(2) of the Act, for the purposes of paragraph 1069H(5)(a) of the Act and paragraph 9(b) of the Financial Services Compensation Scheme of Last Resort Levy Act 2023, a special levy has been specified as needing to be imposed by section 9 of that Act for the 2025-26 levy period in accordance with this instrument.
6 Special levy—several sub-sectors
For the purposes of paragraph 1069H(5)(b) of the Act, the amount specified in an item in the following table is the amount of special levy that needs to be imposed for the 2025-26 levy period across all members of the sub‑sector specified in that item in the table.
Item
Sub-sector
Amount ($)
1
claims handling and settling services providers sub-sector
1,593,339.80
2
credit intermediaries sub-sector
667,529.41
3
credit providers sub-sector
7,230,226.06
4
custodians sub-sector
146,832.10
5
deposit product providers sub-sector
1,005,235.13
6
insurance product distributors sub-sector
194,461.54
7
insurance product providers sub-sector
2,597,907.36
8
large futures exchange participants sub-sector
196,376.80
9
large securities exchange participants sub-sector
4,406,958.61
10
licensees that provide only general advice to retail or wholesale clients sub-sector
645,887.01
11
licensees that provide personal advice to retail clients on only products that are not relevant financial products sub-sector
20,981.47
12
licensees that provide personal advice on relevant financial products to retail clients sub‑sector
small and medium amount credit providers sub‑sector
1,639,508.05
22
superannuation trustees sub-sector
6,100,082.25
23
traditional trustee company service providers sub-sector
113,950.44
Note: For payment of special levy, see Part 3 of the Financial Services Compensation Scheme of Last Resort Levy (Collection) Act 2023.
7 Total amount of special levy
For the purposes of paragraph 1069H(5)(c) of the Act, the sum of the total amounts of special levy specified under section 6 of this instrument is $47,289,000.03.
Note: The sum specified in this section does not exceed the difference between:
the revised claims, fees and costs estimate for the levy period and the licensed personal advice sub-sector; and
the total amount of levy already paid as worked out under subsection 1069H(6) of the Act.