Australian Securities and Investments Commission Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258 (Cth)

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ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258 I, Oliver Harvey, delegate of the Australian Securities and Investments Commission, make the following legislative instrument. Dated  1 April 2016 Oliver Harvey Contents Part 1—Preliminary 1    Name of legislative instrument 2    Commencement 3    Authority 4   Definitions Part 2—Exemption 5   Pre-commencement date Swaptions Part 1—Preliminary 1        Name of legislative instrument This instrument is ASIC Corporations (Derivative Transaction Clearing Exemption) Instrument 2016/258. 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 3        Authority This instrument is made under paragraph 907D(2)(c) of the Corporations Act 2001. 4        Definitions (1)     In this instrument: Rules means the ASIC Derivative Transaction Rules (Clearing) 2015. Swaption means a derivative between two parties under which one or both parties is granted an option which if exercised would result in the parties entering into a Clearing Derivative. (2)     In this instrument, unless otherwise specified, capitalised terms have the meaning given by the Rules. Part 2—Exemption 5        Pre-commencement date Swaptions Rule 2.1.1 of the Rules does not apply to a Clearing Transaction that is the entry into a Clearing Derivative where: (a)     the Clearing Derivative was entered into as a result of a party to a Swaption exercising the option granted to the party under the Swaption; and (b)     the Swaption was entered into before 4 April 2016.