Document ID: chunk:federal_register_of_legislation:F2023C00842:body:0:p2
Version: federal_register_of_legislation:F2023C00842
Segment Type: other
Provision Reference: 
Character Range: 2787–5899

an Australian financial services licence, is of high complexity if the authorisations sought relate to any of the following financial services:
           (a) make a market for a financial product;
           (b) operate a registered scheme;
           (c) the provision by a trustee company of a traditional trustee company service;
           (d) dealing in relation to a derivative;
           (e) in relation to securities or managed investment interests—underwriting the securities or interests;
           (f) issuing any of the following financial products:
              (i) a foreign exchange contract;
              (ii) a margin lending facility that is a standard margin lending facility;
              (iii) a facility through which, or through the acquisition of which, a person makes non-cash payments (within the meaning of section 763D of the Act);
              (iv) any of the financial products mentioned in paragraph (a) of the definition of MDA provider in ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968;
              (v) a financial product mentioned in paragraph 764A(1)(b) or (ba) of the Act including an interest in an IDPS (as defined in ASIC Corporations (Investor Directed Portfolio Services) Instrument 2023/669) or an IDPS-like scheme (as defined in ASIC Corporations (Investor Directed Portfolio Services Provided Through a Registered Managed Investment Scheme) Instrument 2023/668).
                  Note: Paragraphs 764A(1)(b) and (ba) of the Act respectively cover an interest in a registered scheme and an interest in a managed investment scheme that is not a registered scheme.

6 Application for an Australian market licence

High complexity
(1) The lodgment of an application, under subsection 795A(1) of the Act, for an Australian market licence, is of high complexity if the assessment of the application requires:
           (a) a significant level of expertise, or a significant amount of time, to assess the matters referred to in subsection 798A(2) of the Act; or
           (b) the development of significant new policy in relation to Australian market licences.

Medium complexity
(2) The lodgment of an application, under subsection 795A(1) of the Act, for an Australian market licence, is of medium complexity if the assessment of the application requires:
           (a) a moderate level of expertise, or a moderate amount of time, to assess the matters referred to in subsection 798A(2) of the Act; or
           (b) the development of new policy in relation to Australian market licences.

Low complexity
(3) The lodgment of an application, under subsection 795A(1) of the Act, for an Australian market licence, is of low complexity if the lodgment of the application is of neither high nor medium complexity.

7 Application for an Australian CS facility licence

High complexity
(1) The lodgment of an application, under subsection 824A(1) of the Act, for an Australian CS facility licence, is of high complexity if the assessment of the application requires:
           (a) a significant level of expertise, or a significant