10E. Exemptions in relation to specified derivatives contracts entered into, etc., before 21 October 2024 where specified person had no reporting obligations under old Regulations
Feedback & supportLast amended by an amending law of 2024.
Paragraph (2) applies to a person who satisfies all of the following conditions:
the person is, on 21 October 2024, a specified person;
the person is either —
a party to a specified derivatives contract that is entered into before that date; or
a person who executed or caused to be executed, before that date, a specified derivatives contract as an agent of a party to that derivatives contract.
The person is exempt from reporting under section 125(1) and (2) of the Act —
an item of information in Part 1 of the First Schedule concerning that derivatives contract; or
an amendment, modification, variation or change to that item of information,if the conditions in paragraph (3) are satisfied.
The conditions are —
the person was not required, under the old Regulations, to report that item of information (whether under the same or different data fields as those set out in Part 1 of the First Schedule); and
the person had not, at or about the time the derivatives contract was executed, recorded that item of information in any manner.
Subregulation 1
Paragraph (2) applies to a person who satisfies all of the following conditions:
the person is, on 21 October 2024, a specified person;
the person is either —
a party to a specified derivatives contract that is entered into before that date; or
a person who executed or caused to be executed, before that date, a specified derivatives contract as an agent of a party to that derivatives contract.
Subregulation 2
The person is exempt from reporting under section 125(1) and (2) of the Act —
an item of information in Part 1 of the First Schedule concerning that derivatives contract; or
an amendment, modification, variation or change to that item of information,if the conditions in paragraph (3) are satisfied.
Subregulation 3
The conditions are —
the person was not required, under the old Regulations, to report that item of information (whether under the same or different data fields as those set out in Part 1 of the First Schedule); and
the person had not, at or about the time the derivatives contract was executed, recorded that item of information in any manner.