1 Amendments of Herbert DORFMANN related to 2010/0250(COD)
Amendment 308 #
Proposal for a regulation
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
1 a. There shall be no clearing obligation in the case of derivative contracts between subsidiary undertakings of the same parent company or between a parent company and a subsidiary undertaking. ‘Parent companies’ and ‘subsidiary companies’ for the purposes of this provision shall be companies thus defined under the relevant EU rules. Furthermore, there shall be no clearing obligation in case of derivatives contracts entered into between members of the same group as defined in Article 80(7) of the Banking Directive 2006/48/EC (recast) or of the same institutional protection scheme as defined in Article 80(8) of the Banking Directive 2006/48/EC (recast). This derogation shall not affect the reporting obligation under Article 6 or the obligations in relation to risk mitigation techniques under Article 8