Payment Systems and Netting Regulations 2001

An obligation that relates to an arrangement that is a forward, swap or option, or any combination of those things, in relation to one or more commodities, is prescribed for the purposes of paragraph 14A(8)(a) of the Act.

None of the following are eligible obligations in relation to a close‑out netting contract:

an obligation under a credit facility (as defined in regulations made for the purposes of subparagraph 765A(1)(h)(i) of the Corporations Act 2001), including:

a margin lending facility (within the meaning of the Corporations Act 2001); and

an obligation under a financial product that is declared by the Australian Securities and Investments Commission under subsection 761EA(9) of the Corporations Act 2001 not to be a margin lending facility;

an obligation under a deposit‑taking facility;

an obligation under a reciprocal purchase agreement (otherwise known as a repurchase agreement), a sell‑buyback arrangement or securities loan arrangement;

an obligation under a contract of insurance, including a life policy or a sinking fund policy within the meaning of the Life Insurance Act 1995;

an obligation under a managed investment scheme (within the meaning of the Corporations Act 2001);

an obligation under a lease or licence;

an obligation under a guarantee;

an obligation to pay money under:

a cheque; or

an order for the payment of money; or

a bill of exchange.

Subregulation (2) is made under subsection 14A(9) of the Act.