Document ID: chunk:federal_register_of_legislation:F2024L01113:body:0:p3
Version: federal_register_of_legislation:F2024L01113
Segment Type: other
Provision Reference: 
Character Range: 5807–9147

the proposed counterparty to offer to enter into the OTC Derivative with the Relevant Reporting Entity;
                         4.         agreeing  to enter into the OTC Derivative with the proposed counterparty;
                         5.          managing the financial risk arising from the OTC Derivative;
              is, or in the case of the function referred to in sub-subparagraph (E), will be, performed on behalf of the Relevant Reporting Entity by a person who is:
                   1.          ordinarily resident or employed in this jurisdiction; or
                   2.         acting as part of a desk, office or branch of:
                           1.            the Relevant Reporting Entity; or
                           2.         an entity that is an associate of the Relevant Reporting Entity,
                  where that desk, office or branch is located in this jurisdiction; and
               1.          if the OTC Derivative was executed through an automated electronic trading facility, one or more of the functions referred to in sub-subparagraphs (i)(A) - (E) in relation to the OTC Derivative is, or in the case of the function referred to in sub-subparagraph (E), will be, performed on behalf of the Relevant Reporting Entity by a person who is:
                       1.         ordinarily resident or employed in this jurisdiction; or
                       2.         acting as part of a desk, office or branch of:
                               1.            the Relevant Reporting Entity; or
                               2.         an entity that is an associate of the Relevant Reporting Entity,
                  where that desk, office or branch is located in this jurisdiction;
            1.           the modification or termination of an arrangement that is a Nexus Derivative; and
            2.           the assignment, by a party to an arrangement that is a Nexus Derivative, of some or all of the party's rights and obligations under the arrangement, where the Relevant Reporting Entity has actual knowledge of the assignment.

    Exception for alternative reporting
 1.           A Relevant Reporting Entity to which the exemption in section 5 applies is not required to comply with the conditions in subsection 8(1) that would otherwise apply to the Relevant Reporting Entity in relation to a Nexus Transaction, if, at the time the Relevant Reporting Entity would otherwise be required to comply with the condition:
         1.           the Relevant Reporting Entity is subject to reporting requirements (Alternative Reporting Requirements) in one or more foreign jurisdictions (each, a Foreign Jurisdiction) that are substantially equivalent to the Reporting Requirements under the Rules and that cover OTC derivatives of the same Prescribed Class as the Nexus Transaction; and
         2.           either:
                 1.             the Relevant Reporting Entity or another entity has reported information about the Nexus Transaction to a Prescribed Repository, in compliance with the Alternative Reporting Requirements in at least one Foreign Jurisdiction; or
                 2.          the Relevant Reporting Entity is exempt from the requirement in all of the Foreign Jurisdictions to report information about the Nexus Transaction, or there is no requirement in