Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This regulation is made for paragraph 901D(b) of the Act.
(2) The derivative transaction rules can only impose clearing requirements in relation to a derivative transaction on an entity that is an Australian clearing entity in relation to the transaction if the other party to the transaction is:
(a) an Australian clearing entity in relation to the transaction; or
(b) a foreign clearing entity in relation to the transaction; or
(c) a foreign internationally active dealer.
(3) The derivative transaction rules can only impose clearing requirements in relation to a derivative transaction on an entity that is a foreign clearing entity in relation to the transaction if the other party to the transaction is:
(a) an Australian clearing entity in relation to the transaction; or
(b) a foreign clearing entity in relation to the transaction; or
(c) a foreign internationally active dealer.
(4) In this regulation:
"foreign internationally active dealer" means any foreign entity, other than a foreign clearing entity, that is registered or provisionally registered as:
(a) a swap dealer with the Commodity Futures Trading Commission of the United States of America; or
(b) a securities-based swap dealer with the Securities and Exchange Commission of the United States of America.