Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.5A.71

Exemption--single-sided transaction and position reporting

             (1)  This regulation is made for paragraph 907E(2)(a) of the Act.

Exemptions

             (2)  A phase 3 reporting entity is exempt from a provision of the Derivative Transaction Rules (Reporting) requiring the entity, at a particular time, to report information about an OTC derivative transaction to which the entity is a party if, at that time:

                     (a)  regulation 7.5A.73 applies to the entity in relation to the transaction; and

                     (b)  the other party to the transaction is a reporting counterparty in relation to the phase 3 reporting entity and the information.

             (3)  A phase 3 reporting entity is exempt from a provision of the Derivative Transaction Rules (Reporting) requiring the entity, at a particular time, to report OTC derivative position information in relation to an OTC derivative position to which the entity is a party if, at that time:

                     (a)  regulation 7.5A.73 applies to the entity in relation to the position; and

                     (b)  the other party to the position is a reporting counterparty in relation to the phase 3 reporting entity and the information.

Effect of exemption on ASIC exemption instrument

             (4)  Subregulation (5) applies if a phase 3 reporting entity is exempt under this regulation from a provision of the Derivative Transaction Rules (Reporting) requiring the entity to report information about a particular OTC derivative transaction or OTC derivative position.

             (5)  The entity is also exempt from subsection 907D(3) of the Act in relation to a provision of the ASIC exemption instrument that imposes a requirement to report information about the transaction or position as a condition of an exemption under that instrument.



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