Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p13
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 13/43)
Character Range: 733981–736877

registered scheme, notified foreign passport fund, trust or CCIV, in the following circumstances:
 (i) in a case in which the relevant definition is applied in relation to an OTC derivative transaction to which the entity is a party in that capacity;
 (ii) in a case in which the relevant definition is applied in relation to an OTC derivative held by the entity in that capacity.

7.5A.74  Reporting requirement—exemption stops applying

Scope
 (1) This regulation applies to a phase 3 reporting entity, in relation to an OTC derivative transaction or an OTC derivative position, if:
 (a) regulation 7.5A.73 applies in relation to the entity, in relation to the transaction or position, during a particular period, and the period has ended (at the exemption end time); and
 (b) the entity is a counterparty to the relevant OTC derivative (including the derivative as modified) at the exemption end time; and
 (c) in reliance on an exemption under regulation 7.5A.71 (the applicable exemption), the entity does not report OTC derivative position information (the exempt information) in relation to the transaction or position during that period; and
 (d) if it were not for the applicable exemption, the entity would have been required to report the exempt information under:
 (i) the Derivative Transaction Rules (Reporting); or
 (ii) subsection 907D(3) of the Act, in relation to a provision of the ASIC exemption instrument that imposes a requirement, as a condition of an exemption under that instrument, to report that information.

Single‑sided reporting requirement
 (2) Despite the applicable exemption, the entity must report OTC derivative position information in relation to the OTC derivative, as at the exemption end time, in accordance with the Derivative Transaction Rules (Reporting), within 6 months after the exemption end time.
 (3) If the entity fails to comply with subregulation (2), the applicable exemption is taken never to have applied to the entity in relation to the transaction or position.

Subdivision 2.2—Enforceable undertakings

7.5A.101  Enforceable undertakings
 (1) This regulation is made for paragraphs 901F(1)(d) and 903E(1)(d) of the Act.
 (2) ASIC may accept a written undertaking, entered into by a person who is alleged to have contravened section 901E or 903D of the Act, as an alternative to civil proceedings.
 (3) Without limiting subregulation (2), ASIC may accept an undertaking that includes any of the following:
 (a) an undertaking to take specified action within a specified period;
 (b) an undertaking to refrain from taking specified action;
 (c) an undertaking to pay a specified amount within a specified period to the Commonwealth or to some other specified person.
Note: An undertaking may relate to an infringement notice given in relation to the alleged contravention. For example, an infringement notice may require a person to enter