The AICD has provided a submission on the Treasury’s consultation on the ASIC Supervisory Cost Recovery Levy Amendment (Enhancements) Regulations 2018 (Cth).
The proposed Regulations make several changes to the application of the ASIC industry funding model which came into effect on 1 July 2017.
The AICD’s submission addresses the application of the funding model to registered charities that are unlisted public companies. Primarily responsibility for regulation of these entities is undertaken by the Australian Charities and Not-for-profits Commission.
The AICD’s submission recommends that these entities be exempt from the industry levy or, failing this, be levied a lower fee \ reflective of the reduced regulatory oversight they receive compared with other unlisted public companies.
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