Document ID: chunk:federal_register_of_legislation:F2024L01357:clause:1_7:p1
Version: federal_register_of_legislation:F2024L01357
Segment Type: clause
Provision Reference: sch 1 cl 7 (pt 1/2)
Character Range: 5711–8582

7  After Part 7.3
Insert:

Part 7.3B—Crisis resolution for CS facility licensees

Division 6—Moratorium on action during statutory management or compulsory transfer

Subdivision B—Stay on enforcement rights triggered by statutory management or compulsory transfer

7.3B.65  Prescribed kinds of arrangements—rights under which are not subject to the stay in section 843A of the Act
 (1) For the purposes of subparagraph 843B(1)(b)(i) of the Act, each of the kinds of arrangements referred to in subregulation (2) is prescribed.
 (2) The kinds of arrangements are as follows:
 (a) an arrangement that is, or is directly connected with, a derivative;
 (b) an arrangement that is, or is directly connected with, a securities financing transaction;
 (c) an arrangement that is, or governs, securities, financial products, bonds, promissory notes, or syndicated loans;
 (d) an arrangement that is a flawed asset arrangement;
 (e) an arrangement that is the operating rules (other than the listing rules) of a financial market;
Note: The operating rules of a licensed market are a contract, see subsection 793B(1) of the Act.
 (f) an arrangement that is the operating rules of a clearing and settlement facility;
Note: The operating rules of a licensed CS facility are a contract, see subsection 822B(1) of the Act.
 (g) an arrangement of which the parties include the Reserve Bank and the operator of a clearing and settlement facility;
 (h) an arrangement under which participants in a clearing and settlement facility may settle obligations on behalf of other participants in the facility;
 (i) a legally enforceable arrangement referred to in paragraph 9(1)(b) of the Payment Systems and Netting Act 1998 that supports an approved RTGS system (within the meaning of that Act);
Note: The arrangement includes the rules that are part of that arrangement.
 (j) an approved netting arrangement (within the meaning of the Payment Systems and Netting Act 1998);
Note: The arrangement includes the rules that are part of that arrangement.
 (k) an arrangement that confers rights on:
 (i) the operator of an approved RTGS system (within the meaning of the Payment Systems and Netting Act 1998); or
 (ii) the coordinator of an approved netting arrangement (within the meaning of that Act);
  in relation to the operation of that system or netting arrangement;
 (l) a contract, agreement or arrangement under which the parties to an arrangement covered by paragraph (i) or (j) (the main arrangement) may settle obligations on behalf of other parties to the main arrangement;
 (m) a close‑out netting contract (within the meaning of the Payment Systems and Netting Act 1998);
 (n) an arrangement under which security is given over financial property (within the meaning of the Payment Systems and Netting Act 1998) in respect of eligible obligations (within the meaning of that Act) of