Following the amendment of Article 9(1) EMIR in Regulation (EU) 2019\/834, effective as of 17 June 2019, it is now possible to request an exemption from the reporting obligation for intragroup contracts, provided that certain conditions are met.<\/p>
This possibility applies to contracts in which at least one counterparty is a non-financial counterparty<\/a> (NFC), or would be considered as one if it were established in the European Union, provided that<\/p> a) both counterparties are included in the same consolidation on a full basis;<\/p> b) both counterparties are subject to appropriate centralised risk evaluation, measurement and control procedures; and<\/p> c) the parent undertaking is not a financial counterparty.<\/p> Counterparties shall notify their competent authorities of their intention to apply the exemption referred to in Article 9(1) EMIR. The exemption shall be valid unless the notified competent authorities do not agree upon fulfilment of the conditions of Article 9(1) EMIR within three months of the date of notification.<\/p> The online FMA IGT Tool<\/a> shall be used to notify the Austrian FMA of the intention to use the exemption to report intragroup transactions. To register for an FMA IGT Tool<\/a> account, a duly signed declaration<\/a> <\/em>shall be submitted. More details can be found in the IGT Manual<\/a><\/p> A fee of EUR 2,500.00 will be charged for the verification of such a notification pursuant to 2. Teil 2. Abschnitt TP III.G.9 of FMA Gebührenverordnung<\/em>.<\/p>Guidelines for the notification about the reporting exemption to the FMA<\/h2>