Superannuation Industry (Supervision) Amendment Regulations 2004 (No. 7) (154 of 2004)

Schedule 1   Amendment

[1]   Part 3A, after Division 3A.2

insert

Division 3A.3 Applying for RSE licences

3A.05 Definitions

In this Division:

asset , for a registrable superannuation entity, means an item described as an asset in a statement of financial position prepared in respect of the entity.

asset value , for a registrable superannuation entity, means the value worked out by determining the net balance of the registrable superannuation entity based on the statement of financial position prepared in respect of the entity for the last year of income of the entity before the start of the licensing transition period.

extended public offer entity licence means an RSE licence of a class specified in regulation 3A.03.

non-public offer entity licence means an RSE licence of a class provided for under subsection 29B (3) of the Act.

statement of financial position , for a registrable superannuation entity, means a statement of financial position prepared in respect of the entity for section 112 of the Act.

Note The definitions of licensing transition period and public offer entity licence are contained in subsection 10 (1) of the Act.

3A.06 Application fees

For paragraphs 29C (4) (c) and 29F (2) (c) of the Act, the following fees are prescribed:

Item

Application

 

Fees ($)

 
   

Non-public offer entity licence

Public offer entity licence

Extended public offer entity licence

1

Application for RSE licence, other than an application mentioned in items 2 to 7.

5,500

20,000

20,000

2

Application for non-public offer entity licence by an applicant that is a body corporate if:

(a) the body corporate was a trustee of a registrable superannuation entity at the start of the licensing transition period; and

3,500

n/a

n/a
 

(b) APRA is satisfied that the asset value of all registrable superannuation entities for which the body corporate proposes to become the RSE licensee is less than $5,000,000; and

      
 

(c) item 5 does not apply.

      

3

Application for non-public offer entity licence by an applicant that is a group of individual trustees if:

(a) any member of the group was a trustee of a registrable superannuation entity at the start of the licensing transition period; and

3,500

n/a

n/a
 

(b) APRA is satisfied that the asset value of all registrable superannuation entities for which the group proposes to become the RSE licensee is less than $5,000,000; and

      
 

(c) item 5 does not apply.

      

4

Application for non-public offer entity licence if, in the 12 months before the application is made:

2,750

n/a

n/a
 

(a) the applicant applied for a licence of that class, for a public offer entity licence, or for an extended public offer entity licence; and

      
 

(b) that application was refused or withdrawn; and

      
 

(c) item 5 does not apply.

      

5

Application for non-public offer entity licence by an applicant to whom item 2 or 3 applies if, in the 12 months before the application is made:

1,750

n/a

n/a
 

(a) the applicant applied for a licence of that class, for a public offer entity licence, or for an extended public offer entity licence; and

      
 

(b) that application was refused or withdrawn.

      

6

Application for public offer entity licence if, in the 12 months before the application is made:

n/a

10,000

n/a
 

(a) the applicant applied for a licence of that class, or for an extended public offer entity licence; and

     
 

(b) that application was refused or withdrawn.

      

7

Application for extended public offer entity licence if, in the 12 months before the application is made:

n/a

n/a

10,000
 

(a) the applicant applied for a licence of that class, or for a public offer entity licence; and

      
 

(b) that application was refused or withdrawn.

      

8

Application for variation under paragraph 29F (1) (a):

      
 

(a) if the applicant already holds a non-public offer entity licence, and item 9 does not apply; or

n/a

14,500

14,500
 

(b) if the applicant already holds a public offer entity licence; or

500

n/a

500
 

(c) if the applicant already holds an extended public offer entity licence.

500

500

n/a

9

Application for variation under paragraph 29F (1) (a) if:

n/a

16,500

16,500
 

(a) the applicant already holds a non-public offer entity licence; and

     
 

(b) when the applicant applied for that licence, item 2 or 3 applied.

      

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