Document ID: chunk:federal_register_of_legislation:C2023C00423:section:10:p2
Version: federal_register_of_legislation:C2023C00423
Segment Type: section
Provision Reference: s 10 (pt 2/2)
Character Range: 15715–17368

regulatory costs for the following financial year by the amount of the excess; or
 (b) for a shortfall of collected levy—increase the amount of its regulatory costs for the following financial year by the amount of the shortfall, to the extent the shortfall does not arise because of section 15 of the ASIC Supervisory Cost Recovery Levy (Collection) Act 2017 (about waiver of levy payable).

Attributing regulatory costs to sub‑sectors
 (7) In determining, for the purposes of paragraph (2)(b), the extent to which regulatory costs for a financial year are attributable to a sub‑sector, ASIC must have regard to the following principles:
 (a) costs relating to the direct regulation of leviable entities in particular sub‑sectors are attributed to that sub‑sector;
 (b) costs relating indirectly to the regulation of leviable entities are attributed to each sub‑sector in proportion to the regulatory resources dedicated to that sub‑sector;
 (c) an excess or shortfall that creates an adjustment under subsection (6) is attributable to the sub‑sector in which the excess or shortfall arose;
 (d) amounts credited to a special account as referred to in paragraph (5)(c) are to be attributed, over time and in a reasonable manner, to the sub‑sectors to which the costs giving rise to debits to the special account relate.

Retrospective application of instruments
 (8) Subsection 12(2) (retrospective application of legislative instruments) of the Legislation Act 2003 does not apply in relation to the following:
 (a) regulations made for the purposes of paragraph (4)(c) or (5)(e);
 (b) a legislative instrument made for the purposes of subsection (2).