Who qualifies as a Small-scale Buy-side Entity
Small-scale Buy-side Entity means a Reporting Entity that:
- is an RE, Trustee, a non-bank body regulated by APRA, or a corporate director of a CCIV; and
- is not an AFS Licensee whose AFS Licence authorises them to make a market in derivatives; and
- is not an Exempt Foreign Licensee; and
- meets the small-scale criteria; and
- is not disqualified from the small-scale criteria; where:
- an entity meets the small-scale criteria from the day after the quarter day following two successive quarter days that it holds 12 billion Australian dollars or less of total gross notional outstanding Non-centrally Cleared Derivatives; and
- an entity is disqualified from the small-scale criteria from the day after the quarter day following two successive quarter days that it holds greater than 12 billion Australian dollars of total gross notional outstanding Non-centrally Cleared Derivatives;
- for a Reporting Entity other than an RE or a trustee, holds means holds other than in a representative capacity; and
- for a Reporting Entity that is an RE or a trustee, holds means holds in the capacity of RE or trustee for a particular scheme or trust; and
- for a CCIV, holds means holds by the CCIV for a particular sub-fund, and includes holds by another person holding property of the CCIV for a particular sub-fund.
