Rule detail : 170163

AST GVT Transitional Reporting Relief

On Apr. 20, AST GVT registered instrument for amendments, repeals.

AST GVT registered ASIC corporations (amendment and repeal) instrument 2023/36 to make consequential amendments and consequential repeals to exemption instruments.
Namely, exemption instruments that provide transitional relief to reporting entities from certain reporting requirements per Derivative transaction rules (reporting) 2013.
Follows AST GVT Dec. 2022 issued derivative transaction rules instruments, #157183.
Instrument 2023/36
This instrument amends exemption instruments to refer to ASIC derivative transaction rules (reporting) 2022 which remade the 2013 rules mentioned above in same form.
Extends time-limited exemptive relief where necessary, broadens jurisdictional scope of exemptive relief for reporting of trade identifiers; repeals exemptive relief that has either expired or will be included in ASIC derivative transaction rules (reporting) 2024.
Amended Exemption Instruments
Amends ASIC derivative transaction rules (nexus derivatives) class exemption 2015.
Also ASIC corporations (derivative transaction reporting exemption) instrument 2015/844; ASIC corporations (derivative transaction reporting exemption) 2016/0688.
ASIC derivative transaction rules (ADI foreign subsidiaries) class exemption 2021/51.
Repealed Exemptions and Exemption Instruments
Repeals the following exemptions as well as exemption instruments; ASIC instrument [14/0234] immediately; as well as ASIC Instrument [14/0633] immediately.
Certain exemptions in ASIC corporations (derivative transaction reporting exemption) instrument 2015/844 will be repealed upon the commencement of 2024 rules above.
In addition, ASIC corporations (derivative transaction reporting exemption) instrument 2016/0688 will be repealed upon the commencement of the 2024 rules above.
Further, ASIC derivative transaction rules (ADI foreign subsidiaries) class exemption 2021/51 will be repealed upon commencement of the 2024 rules referenced above.
Effectiveness
This instrument, other than schedules 3 and 4, commences on Apr. 21, 2023.
Schedules 3 and 4 to this instrument commences on Oct. 21, 2024.
May 15, 2023 Compilations Registered
On May 15, 2023, AST GVT registered 1st compilation of ASIC corporations (derivative transaction reporting exemption) instrument 2016/0688 in order to reflect a change.
Shows text of the instrument as in force on Apr. 21, 2023; reflects change made by the ASIC corporations (amendment and repeal) instrument 2023/36 set out above.
Registered compilation no. 1 of ASIC derivative transaction rules (nexus derivatives) class exemption 2015, in force Apr. 21; reflects changes made by instrument 2023/36.
May 16, 2023 Additional Compilations
On May 16, 2023, AST GVT registered compilation no. 1 of ASIC derivative transaction rules (ADI foreign subsidiaries) class exemption 2021/51, as in force on Apr. 21, 2023.
Also registered compilation no. 13 of the ASIC corporations (derivative transaction reporting exemption) instrument 2015/844, showing text as in force on Apr. 21, 2023.
Both compilations take into account amendments up to instrument 2023/36 above.
In Aug. 2023, AST GVT registered a derivatives reporting determination, see #181816.
In Aug. 2023, AST GVT issued instrument re regulated foreign markets, see #183243.
In Aug. 2023, AST GVT registered a relief instrument re derivatives, see #183618.
Sep. 2024 Remaking of Nexus Exemption
On Sep. 9, 2024, AST GVT registered ASIC derivative transaction rules (nexus derivatives repeal) instrument 2024/602, to allow for remaking of ASIC derivative transaction rules (nexus derivatives) class exemption 2015; in force Oct. 21, 2024.
AST GVT also published an explanatory statement regarding instrument 2024/602.
It also registered ASIC derivative transaction rules (nexus derivatives) instrument 2024/603, to maintain existing relief for certain foreign reporting entities under the ASIC derivative transaction rules (reporting) 2024 (2024 reporting rules), #201172.
Namely, from the requirement to report over-the-counter (OTC) derivative transactions that are entered into in this jurisdiction until that provision is removed from the 2024 reporting rules on Oct. 20, 2025 and replaced by the form of the nexus test.
Also issued explanatory statement; instrument 2024/603 also commences Oct. 21.
Instrument 2024/603 also enables foreign entities to opt-in to switch from reporting using entered into in this jurisdiction test to reporting using nexus test, consistent with settings under 2015 nexus exemption and prior to the nexus test replacing the below.
The entered into in this jurisdiction test in the 2024 reporting rules on Oct. 20, 2025.

Regulators	AST ASIC; AST GVT
Entity Types	B/D; Corp; OTC
Reference	Info, RF F2024L01112, F2024L01113, 9/9/2024; RF F2023C00439, F2023C00437 5/16/2023; RF F2023C00434, F2023C00433, 5/15/2023; RF F2023L00456, 4/20/2023; Citation: Derivative transaction rules (reporting) 2013;; ASIC derivative transaction rules (nexus derivatives) class exemption 2015; ASIC corporations (derivative transaction reporting exemption) instrument 2015/844; ASIC corporations (derivative transaction reporting exemption) 2016/0688; ASIC derivative transaction rules (ADI foreign subsidiaries) class exemption 2021/51; ASIC derivative transaction rules (reporting) 2022; ASIC corporations (amendment and repeal) instrument 2023/36; ASIC derivative transaction rules (reporting) 2024; ASIC corporations (derivative transaction reporting exemption) instrument 2016/0688; ASIC derivative transaction rules (nexus derivatives repeal) instrument 2024/602; ASIC derivative transaction rules (nexus derivatives) instrument 2024/603;
Functions	Compliance; Financial; Legal; Trade Reporting; Treasury
Countries	Australia; Cross-Border
Category
State
Products	Corporate; Derivatives
Regions	AP
Rule Type	Final
Rule Date	4/20/2023
Effective Date	10/21/2024
Rule Id	170163
Linked to	Rule :157183
Reg. Last Update	9/9/2024
Report Section	International