Corporations (Derivatives) Determination 2013

Administered by Department of the Treasury

Legislation au F2013L00819 Not in force Legislative Instrument

Legislation content

Corporations (Derivatives) Determination 2013

made under subsection 901B(2) of the

Corporations Act 2001

Compilation No. 1

Compilation date:   3 September 2015

Includes amendments up to: F2015L01392

Registered:    4 September 2015

 

 

 

 

 

 

 

 

 

About this compilation

This compilation

This is a compilation of the Corporations (Derivatives) Determination 2013 that shows the text of the law as amended and in force on 3 September 2015 (the compilation date).

This compilation was prepared on 3 September 2015.

The notes at the end of this compilation (the endnotes) include information about amending laws and the amendment history of provisions of the compiled law.

Uncommenced amendments

The effect of uncommenced amendments is not shown in the text of the compiled law. Any uncommenced amendments affecting the law are accessible on ComLaw (www.comlaw.gov.au). The details of amendments made up to, but not commenced at, the compilation date are underlined in the endnotes. For more information on any uncommenced amendments, see the series page on ComLaw for the compiled law.

Application, saving and transitional provisions for provisions and amendments

If the operation of a provision or amendment of the compiled law is affected by an application, saving or transitional provision that is not included in this compilation, details are included in the endnotes.

Modifications

If the compiled law is modified by another law, the compiled law operates as modified but the modification does not amend the text of the law. Accordingly, this compilation does not show the text of the compiled law as modified. For more information on any modifications, see the series page on ComLaw for the compiled law.

Self-repealing provisions

If a provision of the compiled law has been repealed in accordance with a provision of the law, details are included in the endnotes.

 

 

 

Contents

1 Name of determination

3 Authority

4 Derivatives for which rules may impose reporting requirements

5 Derivatives for which rules may impose clearing requirements

Endnotes

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

 

 

1  Name of determination

  This determination is the Corporations (Derivatives) Determination 2013.

3  Authority

  This determination is made under the Corporations Act 2001.

4  Derivatives for which rules may impose reporting requirements

 (1) This section:

 (a) determines the classes of derivatives in relation to which reporting requirements may be imposed; and

 (b) is made for subsection 901B(2) of the Corporations Act 2001.

 (2) The classes of derivatives determined for that subsection are:

 (a) commodity derivatives that are not electricity derivatives;

 (b) credit derivatives;

 (c) equity derivatives;

 (d) foreign exchange derivatives;

 (e) interest rate derivatives.

5  Derivatives for which rules may impose clearing requirements

 (1) This section:

 (a) determines the classes of derivatives in relation to which clearing requirements may be imposed; and

 (b) is made for subsection 901B(2) of the Corporations Act 2001.

 (2) The classes of derivatives determined for that subsection are interest rate derivatives denominated in any of the following currencies:

 (a) Australian dollars;

 (b) US dollars;

 (c) euros;

 (d) British pounds;

 (e) Japanese yen.

 

Endnotes

Endnote 1—About the endnotes

The endnotes provide information about this compilation and the compiled law.

The following endnotes are included in every compilation:

Endnote 1—About the endnotes

Endnote 2—Abbreviation key

Endnote 3—Legislation history

Endnote 4—Amendment history

Endnotes about misdescribed amendments and other matters are included in a compilation only as necessary.

Abbreviation key—Endnote 2

The abbreviation key sets out abbreviations that may be used in the endnotes.

Legislation history and amendment history—Endnotes 3 and 4

Amending laws are annotated in the legislation history and amendment history.

The legislation history in endnote 3 provides information about each law that has amended (or will amend) the compiled law. The information includes commencement details for amending laws and details of any application, saving or transitional provisions that are not included in this compilation.

The amendment history in endnote 4 provides information about amendments at the provision (generally section or equivalent) level. It also includes information about any provision of the compiled law that has been repealed in accordance with a provision of the law.

Misdescribed amendments

A misdescribed amendment is an amendment that does not accurately describe the amendment to be made. If, despite the misdescription, the amendment can be given effect as intended, the amendment is incorporated into the compiled law and the abbreviation “(md)” added to the details of the amendment included in the amendment history.

If a misdescribed amendment cannot be given effect as intended, the abbreviation “(md not incorp)” is added to the details of the amendment included in the amendment history.

Endnote 2—Abbreviation key

 

A = Act

o = order(s)

ad = added or inserted

Ord = Ordinance

am = amended

orig = original

amdt = amendment

par = paragraph(s)/subparagraph(s)

c = clause(s)

    /sub‑subparagraph(s)

C[x] = Compilation No. x

pres = present

Ch = Chapter(s)

prev = previous

def = definition(s)

(prev…) = previously

Dict = Dictionary

Pt = Part(s)

disallowed = disallowed by Parliament

r = regulation(s)/rule(s)

Div = Division(s)

Reg = Regulation/Regulations

exp = expires/expired or ceases/ceased to have

reloc = relocated

    effect

renum = renumbered

F = Federal Register of Legislative Instruments

rep = repealed

gaz = gazette

rs = repealed and substituted

LI = Legislative Instrument

s = section(s)/subsection(s)

LIA = Legislative Instruments Act 2003

Sch = Schedule(s)

(md) = misdescribed amendment can be given

Sdiv = Subdivision(s)

    effect

SLI = Select Legislative Instrument

(md not incorp) = misdescribed amendment

SR = Statutory Rules

    cannot be given effect

Sub‑Ch = Sub‑Chapter(s)

mod = modified/modification

SubPt = Subpart(s)

No. = Number(s)

underlining = whole or part not

 

    commenced or to be commenced

 

Endnote 3—Legislation history

 

Name

FRLI registration

Commencement

Application, saving and transitional provisions

Corporations (Derivatives) Determination 2013

22 May 2013 (F2013L00819)

23 May 2013 (s 2)

 

Corporations (Derivatives) Amendment Determination 2015 (No. 1)

2 Sept 2015 (F2015L01392)

3 Sept 2015 (s 2(1))

—

 

Endnote 4—Amendment history

 

Provision affected

How affected

s 2.....................

rep. LIA s 48D

s 5.....................

ad F2015L01392

 

 

Overview

The Corporations (Derivatives) Determination 2013 was enacted under subsection 901B(2) of the Corporations Act 2001 by the Australian Parliament to address the regulatory gap in reporting and clearing requirements for certain derivatives. This legislative instrument establishes the classes of derivatives that may be subject to reporting and clearing requirements. The primary objective of this determination is to provide a regulatory framework that ensures transparency and mitigates systemic risk in the financial markets by imposing reporting requirements on a range of derivative classes, including commodity, credit, equity, foreign exchange, and interest rate derivatives. Additionally, it imposes clearing requirements specifically on interest rate derivatives denominated in major currencies such as Australian dollars, US dollars, euros, British pounds, and Japanese yen. This structured approach aims to enhance market stability and investor protection within the Australian financial system. This determination is part of a broader legislative effort to regulate the derivatives market, ensuring that it operates in a manner that supports economic stability and safeguards against financial risks. The Corporations (Derivatives) Determination 2013 is instrumental in aligning Australian financial regulations with international standards, thereby fostering a robust and resilient financial market. The determination reflects a commitment to maintaining the integrity and efficiency of the financial system by addressing the complexities and potential systemic risks associated with derivatives trading.

Scope and Application

The Corporations (Derivatives) Determination 2013 applies to the classes of derivatives specified under subsection 901B(2) of the Corporations Act 2001, determining which derivatives may be subject to reporting and clearing requirements. The determination outlines two categories of derivatives: those subject to potential reporting requirements, which include commodity derivatives (excluding electricity derivatives), credit derivatives, equity derivatives, foreign exchange derivatives, and interest rate derivatives; and those subject to potential clearing requirements, which are limited to interest rate derivatives denominated in Australian dollars, US dollars, euros, British pounds, and Japanese yen. This determination applies nationally within Australia and extends to all entities engaged in the trading of these derivatives, including financial institutions, corporations, and other market participants operating under the purview of the Corporations Act 2001. The application of this determination is further refined through subordinate instruments, which may impose specific reporting or clearing obligations on the identified derivatives, thereby enhancing transparency and risk management in financial markets.

Key Provisions

The Corporations (Derivatives) Determination 2013, made under the Corporations Act 2001, outlines specific classes of derivatives for which reporting and clearing requirements may be imposed. Section 4 identifies the classes of derivatives where reporting requirements may be imposed, including commodity derivatives (excluding electricity derivatives), credit derivatives, equity derivatives, foreign exchange derivatives, and interest rate derivatives. Section 5 narrows this scope to specify that clearing requirements may be imposed only on interest rate derivatives denominated in Australian dollars, US dollars, euros, British pounds, or Japanese yen. This determination imposes obligations on entities to report or clear certain derivatives as specified. Entities must comply with the reporting requirements for the listed classes of derivatives and must ensure that interest rate derivatives denominated in specified currencies are subject to clearing requirements. These obligations are in place to ensure transparency and risk management within the financial markets governed by the Corporations Act. Breaches of the obligations imposed by this determination can result in civil or criminal penalties. While the determination does not specify exact penalties, violations of related sections in the Corporations Act 2001 can result in substantial fines and, in some cases, imprisonment. For example, under the Corporations Act, individuals or entities found guilty of knowingly or recklessly making false or misleading statements could face fines of up to $210,000 and/or imprisonment for up to five years for individuals, with additional penalties for body corporates. These penalties underscore the importance of compliance with the reporting and clearing requirements set forth in this determination.

Legal classification tags

Area of Law
Corporate Law & Governance
Instrument
Legislative Instrument
Concepts
Definitions & Interpretation
Reporting & Disclosure Obligations
Licensing & Registration

Interactions

Authorises

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Sourced from the Federal Register of Legislation at 26 August 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au.