ASIC Corporations (Derivative Clearing Exemption) Instrument 2018/209

I, Oliver Harvey, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

Dated 28 March 2018

Oliver Harvey

Contents

Part 1—Preliminary 

1 Name of legislative instrument.....................................

2 Commencement................................................

3 Authority.....................................................

4 Definitions....................................................

Part 2—Exemption 

5 Forward Rate Agreements........................................

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Derivative Clearing Exemption) Instrument 2018/209.

2 Commencement

This instrument commences on the day after it is registered on the Federal Register of Legislation

Note: The register may be accessed at www.legislation.gov.au.

3 Authority

This instrument is made under paragraph 907D(2)(a) of the Corporations Act 2001.

4 Definitions

(1) In this instrument:

Rules means the ASIC Derivative Transaction Rules (Clearing) 2015.

(2) In this instrument, unless otherwise specified, capitalised terms have the meaning given by the Rules.

Part 2—Exemption

5 Forward Rate Agreements denominated in Australian dollars

Relief

From 2 April 2018 to 1 April 2019, a Clearing Entity does not have to comply with Rule 2.1.1 of the Rules in relation to a Forward Rate Agreement if the notional principal amount and payments under the Forward Rate Agreement are denominated in Australian dollars.