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Matters to which ASIC must have regard when making rules

                   In considering whether to make a derivative transaction rule, ASIC:

                     (a)  must have regard to:

                              (i)  the likely effect of the proposed rule on the Australian economy, and on the efficiency, integrity and stability of the Australian financial system; and

                             (ii)  the likely regulatory impact of the proposed rule; and

                            (iii)  if the transactions to which the proposed rule would relate would be or include transactions relating to commodity derivatives--the likely impact of the proposed rule on any Australian market or markets on which the commodities concerned may be traded; and

                     (b)  may have regard to any other matters that ASIC considers relevant.

Note:          Matters that ASIC may have regard to under paragraph (b) may, for example, include:

(a)    any relevant international standards and international commitments; and

(b)    matters raised in consultations (if any) under section 901J.

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