The Pension Fund Clearing Obligation Exemption and Intragroup Transaction Transitional Clearing and Risk-Management Obligation Exemptions (Extension and Amendment) Regulations 2023
These Regulations extend the transitional provision in Article 89 of Regulation (EU) 648/2012 of the European Parliament and of the Council of 4 July 2012 on OTC derivatives, central counterparties and trade repositories (“UK EMIR”) which exempts certain pension fund transactions from the clearing obligation provided for in Article 4 of UK EMIR. Regulation 2 provides that this exemption, in the first subparagraph of Article 89(1) of UK EMIR, is extended by two years, so that it ends on 18th June 2025.