Document ID: chunk:federal_register_of_legislation:C2025C00185:section:901a:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 901A (pt 1/3)
Character Range: 3514475–3517574

901A  ASIC may make derivative transaction rules

Power to make derivative transaction rules
 (1) Subject to this Division, ASIC may, by legislative instrument, make rules (derivative transaction rules) dealing with matters as permitted by this section.
Note: Subdivision C deals with the process of making derivative transaction rules.

Main matters that may be dealt with in derivative transaction rules
 (2) The derivative transaction rules may (subject to this Division) impose any of the following kinds of requirements:
 (a) execution requirements (see subsection (5));
 (b) reporting requirements (see subsection (6));
 (c) clearing requirements (see subsection (7));
 (d) requirements that are incidental or related to execution requirements, reporting requirements or clearing requirements.
Note: Paragraph (2)(d): the derivative transaction rules may (for example) impose requirements on the operator of a licensed derivative trade repository to facilitate compliance, by other persons, with reporting requirements.

Other matters that may be dealt with in derivative transaction rules
 (3) The derivative transaction rules may also (subject to this Division) deal with matters incidental or related to requirements referred to in subsection (2), including any of the following:
 (a) specifying the classes of derivative transactions in relation to which particular requirements apply;
 (b) for execution requirements—specifying the licensed market or prescribed facility (or the class of licensed market or prescribed facility) on which derivative transactions in a particular class must be entered into;
 (c) for reporting requirements:
 (i) specifying the licensed derivative trade repository or prescribed derivative trade repository (or the class of licensed derivative trade repository or prescribed derivative trade repository), to which information about derivative transactions, or positions, in a particular class must be reported; and
 (ii) specifying the information that is required to be reported;
 (d) for clearing requirements:
 (i) specifying the licensed CS facility or prescribed facility (or the class of licensed CS facility or prescribed facility) through which derivative transactions in a particular class must be cleared; and
 (ii) specifying a period within which transactions must be cleared;
 (e) specifying the persons who are required to comply with requirements imposed by the rules;
 (f) the manner and form in which persons must comply with requirements imposed by the rules;
 (g) the circumstances in which persons are, or may be, relieved from complying with requirements in the rules that would otherwise apply to them;
 (h) the keeping of records, or the provision of records or other information, relating to compliance with (or determining whether there has been compliance with) the rules;
 (i) any other matters that the provisions of this Act provide may be dealt with in the derivative transaction rules.
Note: Paragraph (e): subject to section 901D, the persons who are required to comply with requirements imposed by the rules may (for example)