Common use of Regulatory Transparency Clause in Contracts

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2) 3. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (3) of the Party are promptly published or otherwise made publicly available. 4. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons of another Party regarding measures of general application to which this Annex applies. 5. Each Party's regulatory authorities shall use its best endeavours to make available to interested persons of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, regulatory authorities of a Party shall inform the applicant of the status of its application in writing. If an authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's regulatory authorities shall make administrative decisions on a completed application of a financial service supplier of another Party seeking to supply a financial service in that Party's territory within 180 days and shall notify the applicant of the decision in writing without undue delay: (a) an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received; (b) where it is not practicable for a decision to be made within 180 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 8. On the request of an unsuccessful applicant in writing, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2) 3. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (3) of the Party are promptly published or otherwise made publicly available. 42. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons (11) of another the other Party regarding measures of general application to which this Annex appliesshall apply. 3. Each Party shall endeavour to: (a) publish in advance any measures of general application relating to the subject matter of this Annex that it proposes to adopt and the purpose of the measure; (b) provide interested persons and the other Party a reasonable opportunity to comment on such proposed measures; and (c) allow reasonable time between publication of such final measures and their effective date. 4. At the time it adopts final measures, a Party shall endeavour to address in writing substantive comments received from interested persons with respect to the proposed measures. 5. Each Party's regulatory authorities shall use its best endeavours endeavour to make publicly available to interested persons all of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, a Party's regulatory authorities of a Party authority shall inform the applicant of the status of its application in writing. If an such authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's regulatory authorities authority shall make administrative decisions on a completed application of a financial service supplier institution of another the other Party seeking to supply a financial service in that Party's territory within 180 days 120 days, and shall notify the applicant of the decision in writing without undue delay: (a) an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received;; and (b) where it is not practicable for a decision to be made within 180 120 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 8. On the request in writing of an unsuccessful applicant in writing, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- cross-border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2). 3. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (31) of the Party are promptly published or otherwise made publicly available. 4. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons (2) of another the other Party regarding measures of general application to which this Annex applies. 5. Each Party's regulatory authorities shall use its best endeavours to make publicly available to interested persons of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, regulatory authorities of a Party shall inform the applicant of the status of its application in writing. If an authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's regulatory authorities shall make administrative decisions on a completed application of a financial service supplier of another the other Party seeking to supply a financial service in that Party's territory within 180 days and shall notify the applicant of the decision where possible in writing writing, without undue delay: (a) an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is has been received;; and (b) where it is not practicable for a decision to be made within 180 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 87. On the written request of an unsuccessful applicant in writingapplicant, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing. (1) In the case of Australia, "self-regulatory organisation" means any non-governmental body, including any securities or futures exchange or market, clearing or payment settlement agency, or other organisation or association that exercises its own or delegated regulatory or supervisory authority over financial service suppliers or financial institutions; and in the case of China, means an organisation recognised as a self-regulatory body by the central government according to China's laws and regulations. (2) The Parties confirm their shared understanding that "interested persons" in this Article should only be persons whose direct financial interest could potentially be affected by the adoption of the regulations of general application.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- cross-border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's ’s market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2) 3. available.10 Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (3) organisations11 of the Party are promptly published or otherwise made publicly available. 4. available.12 Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons of another Party regarding measures of general application to which this Annex applies. 5. applies.13 Each Party's ’s regulatory authorities shall use its best endeavours to make available to interested persons of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, regulatory authorities of a Party shall inform the applicant of the status of its application in writing. If an authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's ’s regulatory authorities shall make administrative decisions on a completed application of a financial service supplier of another Party seeking to supply a financial service in that Party's territory within 180 days and shall notify the applicant of the decision in writing without undue delay: (a) : an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received; (b) ; where it is not practicable for a decision to be made within 180 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 8. On the request of an unsuccessful applicant in writing, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2) 3. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (3) of the Party are promptly published or otherwise made publicly available. 42. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons xxxxxxx00 of another the other Party regarding measures of general application to which this Annex appliesshall apply. 3. Each Party shall endeavour to: (a) publish in advance any measures of general application relating to the subject matter of this Annex that it proposes to adopt and the purpose of the measure; (b) provide interested persons and the other Party a reasonable opportunity to comment on such proposed measures; and (c) allow reasonable time between publication of such final measures and their effective date. 4. At the time it adopts final measures, a Party shall endeavour to address in writing substantive comments received from interested persons with respect to the proposed measures. 5. Each Party's Party‟s regulatory authorities shall use its best endeavours endeavour to make publicly available to interested persons all of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, a Party‟s regulatory authorities of a Party authority shall inform the applicant of the status of its application in writing. If an such authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's Party‟s regulatory authorities authority shall make administrative decisions on a completed application of a financial service supplier institution of another the other Party seeking to supply a financial service in that Party's Party‟s territory within 180 days 120 days, and shall notify the applicant of the decision in writing without undue delay: (a) an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received; (b) where it is not practicable for a decision to be made within 180 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 8. On the request of an unsuccessful applicant in writing, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2) 3. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (3) of the Party are promptly published or otherwise made publicly available. 42. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons xxxxxxx00 of another the other Party regarding measures of general application to which this Annex appliesshall apply. 3. Each Party shall endeavour to: (a) publish in advance any measures of general application relating to the subject matter of this Annex that it proposes to adopt and the purpose of the measure; (b) provide interested persons and the other Party a reasonable opportunity to comment on such proposed measures; and (c) allow reasonable time between publication of such final measures and their effective date. 4. At the time it adopts final measures, a Party shall endeavour to address in writing substantive comments received from interested persons with respect to the proposed measures. 5. Each Party's ’s regulatory authorities shall use its best endeavours endeavour to make publicly available to interested persons all of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, a Party’s regulatory authorities of a Party authority shall inform the applicant of the status of its application in writing. If an such authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's ’s regulatory authorities authority shall make administrative decisions on a completed application of a financial service supplier institution of another the other Party seeking to supply a financial service in that Party's ’s territory within 180 days 120 days, and shall notify the applicant of the decision in writing without undue delay: (a) an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received; (b) where it is not practicable for a decision to be made within 180 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 8. On the request of an unsuccessful applicant in writing, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- border financial service suppliers are important in facilitating their ability to gain access to to, and operate in in, each other's marketmarkets. Each Party commits to promote regulatory transparency in financial services. 2. Each Party shall ensure that all measures of general application to which this Annex applies are administered in a reasonable, objective, and impartial manner. 3. Each Party shall ensure that measures of general application adopted that it adopts or maintained by a Party maintains are promptly published published, or otherwise made publicly available. 4. To the extent practicable, each Party shall: (2)a) publish or make available to interested persons (7) in advance any regulation of general application relating to this Annex that it proposes to adopt, and the purpose of such regulation; and 3(b) provide interested persons and the other Party with a reasonable opportunity to comment on such proposed regulation. 5. To the extent practicable, each Party shall allow a reasonable period of time between the date of publication of any final regulation of general application and the date when it enters into effect. 6. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-a self- regulatory organisations (3) organisation of the Party are promptly published or otherwise made publicly available. 47. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries enquiries from interested persons of another the other Party regarding measures of general application to which covered by this Annex appliesAnnex. 58. Each Party's regulatory authorities authority shall use its best endeavours to make available to interested persons of another the other Party their its requirements, including any documentation required, for completing applications relating to the supply of financial services. 69. On the request of an applicant in writing, a Party's regulatory authorities of a Party authority shall inform the applicant of the status of its application in writingapplication. If an the authority requires additional information from the applicant, it shall notify the applicant without undue delay. 710. Each A Party's regulatory authorities authority shall make an administrative decisions decision on a completed complete application of a financial service supplier of another the other Party seeking relating to the supply of a financial service in that Party's territory within 180 days days, and shall notify the applicant of the decision in writing without undue delay: (a) an . An application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received; (b) where . Where it is not practicable for such a decision to be made within 180 days, the regulatory authority shall notify the applicant without undue delay and shall endeavour to make the decision within a reasonable period of time thereafter. 811. On the request of an unsuccessful applicant in writing, a Party's regulatory authority that has denied an application shall endeavour shall, to the extent practicable, inform the applicant of the reasons for the denial of the application application. (6) For greater certainty, each Party may, to the extent practical, publish information in writingEnglish. (7) For the purposes of this Article, the Parties confirm their shared understanding that "interested persons" are persons whose direct financial interest could potentially be affected by the adoption of the regulations of general application. (8) For greater certainty, each Party may, to the extent practical, publish information in English.

Regulatory Transparency. 1. The Parties recognise that transparent measures governing the activities of financial institutions and cross- cross-border financial service suppliers are important in facilitating their ability to gain access to and operate in each other's ’s market. 2. Each Party shall ensure that measures of general application adopted or maintained by a Party are promptly published or otherwise made publicly available. (2)available.19 3. Each Party shall take such reasonable measures as may be available to it to ensure that the rules of general application adopted or maintained by self-regulatory organisations (3) organisations20 of the Party are promptly published or otherwise made publicly available.available.21 4. Each Party shall maintain or establish appropriate mechanisms for responding to inquiries from interested persons of another Party regarding measures of general application to which this Annex applies.applies.22 5. Each Party's ’s regulatory authorities shall use its best endeavours to make available to interested persons of another Party their requirements, including any documentation required, for completing applications relating to the supply of financial services. 6. On the request of an applicant in writing, regulatory authorities of a Party shall inform the applicant of the status of its application in writing. If an authority requires additional information from the applicant, it shall notify the applicant without undue delay. 7. Each Party's ’s regulatory authorities shall make administrative decisions on a completed application of a financial service supplier of another Party seeking to supply a financial service in that Party's territory within 180 days and shall notify the applicant of the decision in writing without undue delay: (a) an application shall not be considered complete until all relevant proceedings are conducted and the regulatory authorities consider all necessary information is received; (b) where it is not practicable for a decision to be made within 180 days, the regulatory authority shall notify the applicant without delay and shall endeavour to make the decision within a reasonable time thereafter. 8. On the request of an unsuccessful applicant in writing, a regulatory authority that has denied an application shall endeavour to inform the applicant of the reasons for denial of the application in writing.