Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p33
Version: federal_register_of_legislation:F2024C01107
Segment Type: other
Provision Reference: 
Character Range: 87829–90745

Income Tax Assessment Act 1997 (Cth) must, when it first becomes a member of that group, report in the "Additional Comments" section of the next Monthly Risk-Based Return required by Rule 9.2.3:
(a)        the date its group elected to become a consolidated group;
(b)       the date it entered into a tax sharing agreement (if applicable);
(c)        the date it entered into a tax funding agreement (if applicable); and
(d)       any other information that may be relevant in assessing the Market Participant's financial position as a result of it being part of a consolidated group,
and any changes to these details must be reported in the "Additional Comments" section of subsequent Monthly Risk-Based Returns required by Rule 9.2.3.

S1A.2.7 Records and accounts
(1) A Market Participant must maintain records and working papers in sufficient detail to show continuous compliance with Rule S1A.2.1 for seven years.
(2) The records and working papers referred to in subrule (1) must, at a minimum:
(a)        show the nature of the outstanding transactions and commitments for which the Market Participant was liable;
(b)       disclose the financial position of the Market Participant at any point in time;
(c)        detail and support the calculations required to quantify the Total Risk Requirement and demonstrate that the Market Participant was complying with the Risk-Based Capital Requirements;
(d)       permit the Market Participant to prepare a return required by these Rules using those records if so requested; and
(e)        permit the Market Participant to reproduce a calculation of its Liquid Capital or Total Risk Requirement at the close of business on each day in the seven year period.
(3) A Market Participant must prepare its accounts and returns in accordance with accounting standards which are generally accepted in Australia, unless ASIC approves otherwise.
(4) A Market Participant must take any amounts arising from the marking-to-market of principal positions in Financial Instruments to the Market Participant's profit and loss account immediately and include those amounts in the Market Participant's overall accounting for taxation.
(5) A Market Participant must record a transaction in its accounts on the date on which it enters into an irrevocable commitment to carry out the transaction.

S1A.2.8 Valuations and foreign currencies
(1) A Market Participant must mark to market each of its principal positions in Financial Instruments unless Schedule 1A provides otherwise:
(a)        at least once every Business Day; and
(b)       in the following manner:
(i)         subject to subparagraphs (ii) to (iv), a position must be valued at its closing market price:
(A)       which is the current bid price for a long position; and
(B)       which is the current offer price for a short position;
or at last price, closing price or mid price;
(ii)       an exchange traded Option