ASIC Supervisory Cost Recovery Levy Act 2017

The ASIC Supervisory Cost Recovery Levy Act 2017 is an Act that imposes a levy on persons regulated by the Australian Securities and Investments Commission. The Act was enacted to recover costs associated with supervising these entities. It applies to various types of regulated entities, including financial services entities, credit services entities, market infrastructure entities, audit entities, liquidator entities, and companies-like entities.

The levy is payable by leviable entities for each financial year, based on the amount of ASIC's regulatory costs for that year. The objectives of the Act are to ensure that the total amount of levy paid by all leviable entities equals the total amount of ASIC's regulatory costs.

The Act also includes provisions related to the treatment of partnerships, unincorporated associations, and multiple trustees, as well as regulations made under the Act. The Governor-General has the power to make regulations prescribing matters necessary or convenient for carrying out or giving effect to the Act.

The compiled law shows the text of the Act as amended and in force on October 20, 2023. It provides information about amending laws and amendment history through endnotes.