Document ID: chunk:federal_register_of_legislation:F2024C01058:reg:72aa
Version: federal_register_of_legislation:F2024C01058
Segment Type: reg
Provision Reference: reg 72AA
Character Range: 92069–93129

72AA  Claims handling and settling services providers
 (1) A leviable entity forms part of the claims handling and settling services providers sub‑sector in a financial year if:
 (a) the entity holds, at any time in the financial year, an Australian financial services licence; and
 (b) the licence authorises the holder to provide claims handling and settling services.

Levy component
 (2) The amount of a leviable entity's levy component in respect of the sub‑sector for a financial year is the sum of:
 (a) the minimum levy component for the sub‑sector; and
 (b) the graduated levy component for the entity for the sub‑sector.
Note: For the graduated levy component, see section 10.

Entity metric
 (3) The leviable entity's entity metric for the sub‑sector for the financial year is the number of claims under insurance products in relation to which the entity provides claims handling and settling services in the financial year.
 (4) The minimum levy component for the sub‑sector is $500.

Division 7—Large institutions sector

Subdivision 7.1—General