Key Documents
On the 25 July 2012 a draft of the Corporations Legislation Amendment (Derivatives Transactions) Bill 2012 was released. The legislation would amend the Corporations Act by introducing a framework to allow the Minister for Financial Services and Superannuation to decide that mandatory obligations should apply to certain classes of over-the-counter (OTC) derivatives, requiring those classes to be reported, centrally cleared, or traded on suitable trading platforms. This will allow regulations and rules to be made to specify the details of these obligations. The framework would enable Australia to implement the commitments made at the Pittsburgh G-20 summit in September 2009. Consequential amendments to other Acts that may be introduced concurrently with the draft Bill have not been included in this exposure draft.