Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
This regulation is made for paragraph 901A(7)(b) of the Act.
7.5A.63(2)
Each facility in the following list is prescribed in relation to all derivatives:
(a) CME Clearing Europe Limited;
(b) Eurex Clearing AG;
(c) Japan Securities Clearing Corporation;
(d) NASDAQ OMX Clearing AB;
(e) OTC Clearing Hong Kong Limited.
7.5A.63(3)
A facility determined by ASIC for the purposes of this subregulation is prescribed in relation to the class of derivatives specified in the determination.
7.5A.63(4)
ASIC may, by notifiable instrument, determine a facility for the purposes of subregulation (3) in relation to a specified class of derivatives, but only if ASIC is satisfied that:
(a) the facility ' s principal place of business is located in a foreign country; and
(b) the facility is authorised to operate as a central counterparty for the specified class of derivatives in that country; and
(c) the regulatory regime in the facility ' s principal place of business has substantially implemented the CPSS-IOSCO Principles applicable to the regulation of central counterparties; and
(d) adequate arrangements exist for ASIC and the Reserve Bank of Australia to have access to information about the level of clearing activity by participants that are incorporated or formed in Australia, in relation to derivatives that are subject to clearing requirements under the derivative transaction rules.
7.5A.63(5)
(Repealed by SLI 2015 No 157, r 4, Sch 1[9] (effective 5 March 2016).)
7.5A.63(6)
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(b) as supplemented, superseded or modified from time to time by principles, recommendations or standards issued by the CPSS or IOSCO (or a successor of the CPSS or IOSCO).
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
