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ASIC Corporations (Amendment) Instrument 2020/827

Authoritative Version
  • - F2020L01264
  • In force - Latest Version
Other as made
This instrument amends the ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2015/844 to provide conditional time-limited exemptive relief for the industry for three elements of relief ("Exchange-traded derivatives", "Name information" and "FX Securities Conversion Transactions") set to expire on 30 September 2020.
Administered by: Treasury
Registered 30 Sep 2020
Tabling HistoryDate
Tabled HR06-Oct-2020
Tabled Senate06-Oct-2020
Table of contents.

Commonwealth Coat of Arms and ASIC logo

I, Nathan Bourne, delegate of the Australian Securities and Investments Commission, make the following legislative instrument.

 

Date                                        29 September 2020

 

 

Nathan Bourne            

 



Part 1—Preliminary

1        Name of legislative instrument

This is the ASIC Corporations (Amendment) Instrument 2020/827.

2        Commencement

This instrument commences on the later of:

(a)     1 October 2020; and

(b)     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        Schedules

Each instrument that is specified in the Schedule to this instrument is amended as set out in the applicable items in the Schedule, and any other item in the Schedule has effect according to its terms.


Schedule 1—Amendments

ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2015/844

1        Subsection 4(1) (definition of Identifying Information)

          Repeal the definition.

2        Subsection 4(1) (definition of Relevant Foreign Jurisdiction)

          Repeal the definition.

3        Subsection 5(1)

          Omit “30 September 2020”, substitute “30 September 2022”.

4        Subsection 5(1)

Omit all the words after “where”, substitute:

the entry into of the arrangement that is the Derivative takes place on a financial market that is not operated in this jurisdiction and the following apply:

(a)     the entry into of the arrangement that is the Derivative is in accordance with the operating rules of the financial market;

(b)     the terms of the Derivative are documented under or prescribed by the operating rules of the financial market;

(c)     the Derivative is made available in one or more series in accordance with the operating rules of the financial market and the terms of the arrangement constituting the Derivative are the same as for every other Derivative in the same series, with the exception of price.

5        Subsection 5(2)

Repeal the subsection.

6        Subsection 5(3)

Omit “or (2)”.

7        Paragraphs 5(3)(a) and (b)

Omit “1 October 2020”, substitute “1 October 2022”.

8        Subsection 5(3A)

Omit “paragraph (1)(a)”, substitute “subsection (1)”.

9        Paragraphs 5(3B)(b)

Omit all the words after “is”, substitute “a Regulated Foreign Market for the purposes of the Rules.”.

10      Subsections 5(4) and (5)

Repeal the subsections (including the heading).

11      Subsection 7(1)

Omit “30 September 2020”, substitute “30 September 2022”.

12      Sections 8, 9, 10 and 12

Repeal the sections.

13      Section 13

Omit “30 September 2020”, substitute “30 September 2022”.

14      Paragraph 14(a)

Omit “8(2) to (4), 9(2) and (3), 10(2) to (5), 11(2) and 12(2)”, substitute “6B(3) and 11(2)”.