The Regulations may prescribe for a No equivalent particular chargeable matter, whether the fee is for low, medium or high complexity. The Regulations may prescribe for a chargeable matter a different fee for different entity types. ASIC may by legislative instrument No equivalent determine whether a type of application for a particular regulatory service that is to be charged is considered low, medium or high complexity. National Consumer Credit Protection (Fees) Act 2009 The Regulations may prescribe for a No equivalent chargeable matter a different fee for the different entity types. Superannuation Auditor Registration Imposition Act 2012 Regulations may prescribe a fee by Regulations may prescribe a fee by specifying an amount; however the specifying an amount; however the specified amount may not exceed specified amount may not exceed $5,000. $1,000. Superannuation Industry Supervision Act 1993 In addition to the current law, ASIC ASIC may recover costs in relation to may recover costs in relation to an an application for registration to be an application to vary or revoke the approved SMSF auditor. conditions or cancel the registration of an approved SMSF auditor. Detailed explanation of new law The ASIC Fees Bill and the ASIC Superannuation Auditor Registration Bill amend the Fees Act and the Superannuation Auditor to allow the caps to increase to allow Registration Imposition Act 2012 ASIC to better align its fees to allow cost recovery of the costs ASIC incurs when providing regulatory services to a particular entity. The ASIC Fees Bill and the Credit ASIC Fees Bill amend the Fees Act and the Credit Fees Act to allow that the Regulations may prescribe for a chargeable matter, a different fee for the different entity types. The ASIC Fees Bill also amends the Fees Act to provide that the
The Regulations may prescribe for a particular chargeable matter, whether the fee is for low, medium or high complexity. The Regulations may prescribe for a chargeable matter a different fee for different entity types. No equivalent ASIC may by legislative instrument determine whether a type of application for a particular regulatory service that is to be charged is considered low, medium or high complexity. No equivalent National Consumer Credit Protection (Fees) Act 2009 The Regulations may prescribe for a chargeable matter a different fee for the different entity types. No equivalent Superannuation Auditor Registration Imposition Act 2012 Regulations may prescribe a fee by specifying an amount; however the specified amount may not exceed $5,000. Regulations may prescribe a fee by specifying an amount; however the specified amount may not exceed $1,000. Superannuation Industry Supervision Act 1993 In addition to the current law, ASIC may recover costs in relation to an application to vary or revoke the conditions or cancel the registration of an approved SMSF auditor. ASIC may recover costs in relation to an application for registration to be an approved SMSF auditor. Detailed explanation of new law The ASIC Fees Bill and the ASIC Superannuation Auditor Registration Bill amend the Fees Act and the Superannuation Auditor Registration Imposition Act 2012 to allow the caps to increase to allow ASIC to better align its fees to allow cost recovery of the costs ASIC incurs when providing regulatory services to a particular entity. The ASIC Fees Bill and the Credit ASIC Fees Bill amend the Fees Act and the Credit Fees Act to allow that the Regulations may prescribe for a chargeable matter, a different fee for the different entity types. The ASIC Fees Bill also amends the Fees Act to provide that the
T277938-12_ED_Explanatory_Material_ASIC_fee.docx