Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5A - REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES  

Division 2 - Regulation of derivative transactions: derivative transaction rules  

Subdivision 2.1B - Phase 3 reporting entities - exemption from OTC derivative reporting requirements  

REGULATION 7.5A.71   EXEMPTION - SINGLE-SIDED TRANSACTION AND POSITION REPORTING  

7.5A.71(1)    
This regulation is made for paragraph 907E(2)(a) of the Act.

Exemptions

7.5A.71(2)    
A phase 3 reporting entity is exempt from a provision of the Derivative Transaction Rules (Reporting) requiring the entity, at a particular time, to report information about an OTC derivative transaction to which the entity is a party if, at that time:

(a) regulation 7.5A.73 applies to the entity in relation to the transaction; and

(b) the other party to the transaction is a reporting counterparty in relation to the phase 3 reporting entity and the information.

7.5A.71(3)    
A phase 3 reporting entity is exempt from a provision of the Derivative Transaction Rules (Reporting) requiring the entity, at a particular time, to report OTC derivative position information in relation to an OTC derivative position to which the entity is a party if, at that time:

(a) regulation 7.5A.73 applies to the entity in relation to the position; and

(b) the other party to the position is a reporting counterparty in relation to the phase 3 reporting entity and the information.

Effect of exemption on ASIC exemption instrument

7.5A.71(4)    
Subregulation (5) applies if a phase 3 reporting entity is exempt under this regulation from a provision of the Derivative Transaction Rules (Reporting) requiring the entity to report information about a particular OTC derivative transaction or OTC derivative position.

7.5A.71(5)    
The entity is also exempt from subsection 907D(3) of the Act in relation to a provision of the ASIC exemption instrument that imposes a requirement to report information about the transaction or position as a condition of an exemption under that instrument.