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ASIC Corporations (Amendment and Repeal) Instrument 2023/36

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

 

Date 20 April 2023

 

 

Nathan Bourne

 

Contents

Part 1—Preliminary

1 Name of legislative instrument

2 Commencement

3 Authority

4 Schedules

Schedule 1—Amendments

ASIC Derivative Transaction Rules (Nexus Derivatives) Class Exemption 2015

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

ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2016/0688

ASIC Derivative Transaction Rules (ADI Foreign Subsidiaries) Class Exemption 2021/51

Schedule 2—Repeals

ASIC Instrument [14/0234]

ASIC Instrument [14/0633]

Schedule 3—Amendments

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

Schedule 4—Repeals

ASIC Derivative Transaction Rules (ADI Foreign Subsidiaries) Class Exemption 2021/51

ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2016/0688

Part 1—Preliminary

1 Name of legislative instrument

This is the ASIC Corporations (Amendment and Repeal) Instrument 2023/36.

2 Commencement

(1) This instrument (other than Schedules 3 and 4 to this instrument) commences on the day after this instrument is registered on the Federal Register of Legislation.

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

(2) Schedules 3 and 4 to this instrument commence on 21 October 2024.

3 Authority

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

4 Schedules

Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.


Schedule 1—Amendments

ASIC Derivative Transaction Rules (Nexus Derivatives) Class Exemption 2015

1 Paragraph 4 (definition of Rules)

Omit “ASIC Derivative Transaction Rules (Reporting) 2013 as amended from time to time”, substitute “ASIC Derivative Transaction Rules (Reporting) 2022”.

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

2 Subsection 4(1) (definition of Rules)

 Omit “2013”, substitute “2022”.

3 Subsection 4(1) (definition of Swap Execution Facility)

 Repeal the definition.

4 Subsection 5(1)

Omit “to 30 September 2023”.

5 Paragraph 5(3)(a)

Omit “no later than 1 October 2023”, substitute “the date the Reporting Entity ceases to rely on the exemption”.

6 Paragraph 5(3)(b)

Omit “1 October 2023 or such earlier date as”, substitute “the date”.

7 Subsections 7(1) and 11(1)

Omit “30 September 2023”, substitute “20 October 2024”.

8 Subparagraph 11(2)(a)(i)

 Omit “requirements (CFTC rules) issued by the Commodity Futures Trading Commission of the United States of America”, substitute “laws or other rules (however described) in force in one or more foreign jurisdictions”.

9 Subparagraph 11(2)(a)(ii)

 Omit “; or”, substitute “; and”.

10 Subparagraph 11(2)(a)(ii) (note)

 Repeal the note.

11 After subparagraph 11(2)(a)(ii)

 Insert:

“(iii) on the assumption that the reporting deadline in this jurisdiction for a Reportable Transaction is the end of the second business day in Sydney after the day on which the Reportable Transaction occurs; or”

12 Paragraph 11(2)(b)

 Omit “Swap Execution Facility”, substitute “trading venue”.

13 Section 13

Omit “30 September 2023”, substitute “20 October 2024”.

ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2016/0688

14 Section 4 (definition of Reporting Rules)

Omit “2013”, substitute “2022”.

ASIC Derivative Transaction Rules (ADI Foreign Subsidiaries) Class Exemption 2021/51             

15 Subsection 4(1) (definition of Rules)

 Omit “2013”, substitute “2022”.


Schedule 2—Repeals

ASIC Instrument [14/0234]

1 The whole of the instrument

Repeal the instrument.

ASIC Instrument [14/0633]

2 The whole of the instrument

Repeal the instrument.


Schedule 3—Amendments

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

1 Sections 6, 6A, 6B and 13A

 Repeal the sections.

2 Subsection 14(a)

 Omit “, 6B(3)”.

 


Schedule 4—Repeals

ASIC Derivative Transaction Rules (ADI Foreign Subsidiaries) Class Exemption 2021/51             

1 The whole of the instrument

Repeal the instrument.

ASIC Corporations (Derivative Transaction Reporting Exemption) Instrument 2016/0688

2 The whole of the instrument

Repeal the instrument.