Document ID: chunk:federal_register_of_legislation:F2024C01058:reg:54
Version: federal_register_of_legislation:F2024C01058
Segment Type: reg
Provision Reference: reg 54
Character Range: 67804–68697

54  Tier 1 clearing and settlement facility operators
 (1) A leviable entity forms part of the Tier 1 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 in relation to a clearing and settlement facility that:
 (a) is systemically important in Australia; and
 (b) has a 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.