Document ID: chunk:federal_register_of_legislation:F2024C01135:reg:6:p6
Version: federal_register_of_legislation:F2024C01135
Segment Type: reg
Provision Reference: reg 6 (pt 6/13)
Character Range: 27862–30691

in subregulation 7.5A.61(1) of the Regulations) in relation to a Derivative Transaction to which it is party in its Personal Capacity: see paragraph 7.5A.61(1)(b) of the Regulations.
(b)       if the entity is incorporated or formed outside Australia—it will be an Opt-In Foreign Clearing Entity in its Personal Capacity from the Clearing Start Date.
Note: For the purposes of the Regulations, the entity will be a foreign clearing entity (as defined in subregulation 7.5A.62(1) of the Regulations) in relation to a Derivative Transaction to which it is party in its Personal Capacity: see paragraph 7.5A.62(1)(c) of the Regulations.
(5) If an entity lodges an Opt-In Notice with ASIC under subrule (1) in a Representative Capacity:
(a)        if the scheme or trust to which the Representative Capacity relates is incorporated or formed in Australia—the entity will be an Opt-In Australian Clearing Entity in that Representative Capacity from the Clearing Start Date; and
(b)       if the scheme or trust is incorporated or formed outside Australia—the entity will be an Opt-In Foreign Clearing Entity in that Representative Capacity from the Clearing Start Date.
(6) If an entity lodges a Withdrawal Notice under subrule (2), the entity ceases to be an Opt-In Australian Clearing Entity or an Opt-In Foreign Clearing Entity (as the case may be) in relation to each capacity in which it lodges the notice from the Clearing End Date.
(7) Nothing in this Rule affects whether an entity is a Clearing Entity under any other Rule.
Note: An entity that has lodged an Opt-In Notice in accordance with this Rule will be required to comply with the applicable Clearing Requirements from the Clearing Start Date until the Clearing End Date.

Chapter 2: Clearing Requirements

2.1.1 Clearing Requirement
(1) A Clearing Entity must ensure that each of its Clearing Transactions is Cleared Through a Clearing Facility as soon as reasonably practicable after the Clearing Transaction is entered into.
(2) A Clearing Transaction is Cleared Through a Clearing Facility if:
(a)        for each party to the Clearing Transaction that is a participant in the Clearing Facility, the operator of the Clearing Facility enters into a Central Clearing Transaction with:
(i)         that party; or
(ii)       another participant acting on behalf of that party; and
(b)       for each party to the Clearing Transaction that is not a participant in the Clearing Facility, the operator of the Clearing Facility enters into a Central Clearing Transaction with a participant:
(i)         acting on behalf of that party; or
(ii)       acting on behalf of a person who is acting on behalf of that party; and
Note: A participant may be acting on behalf of a person even if it enters into a Central Clearing Transaction as principal.
(c)        following entry