Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5A - REGULATION OF DERIVATIVE TRANSACTIONS AND DERIVATIVE TRADE REPOSITORIES  

Division 2 - Regulation of derivative transactions: derivative transaction rules  

Subdivision 2.1 - Power to make derivative transaction rules  

REGULATION 7.5A.30   REPORTING REQUIREMENTS - PRESCRIBED FACILITIES  

7.5A.30(1)    
This regulation is made for paragraph 901A(6)(b) of the Act.

7.5A.30(2)    

Each facility in the following list is prescribed in relation to a class of derivatives if the facility is licensed, authorised or registered to operate as a derivative trade repository for that class of derivatives under a law of a foreign jurisdiction:

(a) DTCC Data Repository (U.S.) LLC;

(b) DTCC Derivatives Repository Ltd.;

(c) DTCC Data Repository (Japan) KK;

(d) DTCC Data Repository (Singapore) Pte Ltd;

(e) Chicago Mercantile Exchange Inc.;

(f) INFX SDR, Inc.;

(g) ICE Trade Vault, LLC;

(h) the Monetary Authority appointed under section 5A of the Exchange Fund Ordinance of Hong Kong;

(i) UnaVista Limited;

(j) a facility determined by ASIC for the purposes of this paragraph.

7.5A.30(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.

7.5A.30(2B)    

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

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

(b) is not a legislative instrument.

7.5A.30(3)    

Paragraphs (2)(a) to (i) cease to have effect at the end of 30 June 2015.

7.5A.30(4)    

In this regulation:

CPSS-IOSCO Principles
means the principles for financial market infrastructures:

(a) issued in April 2012 by the Committee on Payment and Settlement Systems (the CPSS ) and the International Organization of Securities Commissions (the IOSCO ); and

(b) as supplemented, superseded or modified from time to time by principles, recommendations or standards issued by the CPSS or IOSCO (or a successor of the CPSS or IOSCO).