Document ID: chunk:federal_register_of_legislation:F2024C01058:reg:27
Version: federal_register_of_legislation:F2024C01058
Segment Type: reg
Provision Reference: reg 27
Character Range: 34986–36413

27  Deposit product providers
 (1) A leviable entity forms part of the deposit product providers sub‑sector in a financial year if, at any time in the financial year, the entity holds an Australian financial services licence that authorises the holder to deal in a financial product by issuing deposit products.

Levy component
 (2) The amount of a leviable entity's levy component in respect of the sub‑sector for the financial year is the sum of:
 (a) the minimum levy component for the sub‑sector; and
 (b) if the entity's entity metric for the sub‑sector for the financial year exceeds the minimum levy threshold—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 total value of deposits held at the end of the financial year in deposit products issued by the entity (whether the deposit product was issued in the financial year or an earlier financial year).
 (4) However:
 (a) there is a pro‑rata of the entity metric; and
 (b) for the purposes of section 11, the number of counted days is the number of days in the financial year on which the leviable entity holds a licence of the kind mentioned in subsection (1).
 (5) The minimum levy component for the sub‑sector is $2,000.
 (6) The minimum levy threshold for the sub‑sector is $10,000,000.