Corporations Laws Amendment (2014 Measures No. 2) Regulation 2014 (88 of 2013)

Schedule 1   Prescribed derivative trade repositories

Corporations Regulations 2001

5   After subregulation 7.5A.30(2)

Insert:

(2A) ASIC must not determine a facility under paragraph (2)(j), unless ASIC is satisfied that:

(a) either:

(i) the facility has adopted rules, procedures or processes that substantially implement the CPSS-IOSCO Principles applicable to the regulation of derivative trade repositories; or

(ii) the foreign jurisdiction concerned has adopted legislation, policies, standards or practices that substantially implement the CPSS-IOSCO Principles applicable to the regulation of derivative trade repositories; and

(b) adequate arrangements exist for cooperation between ASIC and an appropriate authority responsible for licensing, authorising or registering the facility as a derivative trade repository in the foreign jurisdiction.

(2B) A determination made under paragraph (2)(j):

(a) must be published by ASIC in the Gazette; and

(b) is not a legislative instrument.