CORPORATIONS REGULATIONS 2001 - REG 7.5A.64 Persons on whom clearing requirements cannot be imposed

CORPORATIONS REGULATIONS 2001 - REG 7.5A.64

  (1)   This regulation is made for paragraph   901D(a) of the Act.

  (2)   The derivative transaction rules cannot impose clearing requirements in relation to a derivative transaction on a person who is not:

  (a)   an Australian clearing entity in relation to the transaction; or

  (b)   a foreign clearing entity in relation to the transaction.

Example:   This regulation prevents the derivative transaction rules imposing clearing requirements on, among other things, a range of foreign public entities including the following (subject to paragraphs   (2)(a) and (b)):

(a)   central banks;

(b)   Government debt offices;

(c)   multilateral development banks;

(d)   the Bank for International Settlements and other similar international organisations.