Commonwealth Consolidated Regulations

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.