Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p11
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 11/43)
Character Range: 729045–731804

and
 (c) the exempt entity makes regular enquiries reasonably designed to determine whether the other entity has been making reports in accordance with the representations referred to in subparagraphs (b)(ii) and (iii); and
 (d) the exempt entity has no reason to suspect that the other entity has not been making such reports.
 (5) The other entity is a reporting counterparty in relation to the exempt entity and the information if:
 (a) the other entity is a foreign entity; and
 (b) the other entity has made the following representations to the exempt entity:
 (i) that the other entity will report such information to a licensed derivative trade repository in accordance with the Derivative Transaction Rules (Reporting);
 (ii) that the other entity will designate such information reported to that repository as information that has been reported in accordance with the Derivative Transaction Rules (Reporting); and
 (c) the exempt entity makes regular enquiries reasonably designed to determine whether the other entity has been making reports in accordance with the representations referred to in paragraph (b); and
 (d) the exempt entity has no reason to suspect that the other entity has not been making such reports.

Subregulations do not limit each other
 (6) Subregulations (2), (3), (4) and (5) do not limit each other.

7.5A.73  Application of exemptions

New phase 3 reporting entities
 (1) For the purposes of regulations 7.5A.71 and 7.5A.72, this regulation applies to a new phase 3 reporting entity, in relation to an OTC derivative transaction or an OTC derivative position, at all times during a period:
 (a) starting on the day the entity becomes a phase 3 reporting entity; and
 (b) ending at the end of the quarter day that next follows 2 successive disqualifying quarter days for the entity.
Example: An entity becomes a phase 3 reporting entity on 1 November 2015. However, 31 December 2015 and 31 March 2016 are both disqualifying quarter days for the entity.
 This regulation applies to the entity during a period starting on 1 November 2015 and ending at the end of 30 June 2016 (the quarter day that next follows the disqualifying quarter days on 31 December 2015 and 31 March 2016).

Continuing phase 3 reporting entities
 (2) For the purposes of regulations 7.5A.71 and 7.5A.72, this regulation applies to a continuing phase 3 reporting entity, in relation to an OTC derivative transaction or an OTC derivative position, at all times during a period:
 (a) starting on the day after the quarter day that next follows 2 successive qualifying quarter days for the entity; and
 (b) ending at the end of the quarter day that next follows 2 successive disqualifying quarter days for the entity.
Example: An entity becomes a phase 3