Commonwealth Consolidated Regulations

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Persons on whom clearing requirements cannot be imposed

             (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.

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