Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:3:p9
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 3 (pt 9/43)
Character Range: 723805–726630

representative capacity: an entity is a party to an OTC derivative transaction, or holds an OTC derivative position, in a representative capacity if the entity is such a party, or holds such a position, in a capacity as:
 (a) the responsible entity of a registered scheme; or
 (b) the operator of a notified foreign passport fund; or
 (c) the responsible holding party for a notified foreign passport fund; or
 (d) the trustee of a trust; or
 (e) the corporate director of a CCIV.
total gross notional outstanding positions, in relation to a phase 3 reporting entity, has a meaning affected by the ASIC exemption instrument, as in force on 1 October 2015.

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.

7.5A.72  Reporting counterparties
 (1) This regulation sets out, for the purposes of regulation 7.5A.71, the circumstances in which an entity (the other entity) is a reporting counterparty in relation to:
 (a) a phase 3 reporting entity that proposes to rely on an exemption in that regulation (the exempt entity); and
 (b) information that is:
 (i) information about an OTC derivative transaction; or
 (ii) OTC derivative position information.

Reporting entities