Treasury has released a draft of the Corporations Legislation Amendment (Derivatives Transactions) Bill 2012.

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.

Regulations and rules would be made to specify the details of these obligations.