1.2 Legal opinions overview

This guide contains legal opinions from King and Wood Mallesons on the following topics.

Legal opinions have been provided with respect to the enforceability of close-out netting as follows:

Separate legal opinions have also been provided with respect to the following:

• Close-out netting: Summary of the Australian Netting Legislation and Insolvency Proceedings ([4.4.3]); and
• Opinions on the following master agreements, which cross-refer to the summary opinion above:
  • GMRAs governed by Australian law and AFMA Annexes ([2.2.5.30]);
  • ISDA Master Agreements governed by Australian law ([4.3.3] and [2.1.3.20.1]); and
  • GMSLAs governed by Australian law and AMSLAs ([2.3.4])
     
• ICOM Agreements, IFEMA Agreements and FEOMA Agreement ([6.2.1.1]);
• 2009 ISDA Credit Derivatives Determinations Committees and Auction Settlement Supplement to the 2003 ISDA Credit Derivative Definitions ([3.4.1]);
• 2009 ISDA Credit Derivatives Determinations Committees and Auction Settlement CDS Protocol (also referred to as the “CDS Big Bang Protocol”) ([3.4.2]);
• 2009 ISDA Credit Derivatives Determinations Committees, Auction Settlement and Restructuring Supplement to the 2003 ISDA Credit Derivatives Definitions (also referred to as the “CDS Small Bang Protocol”) ([3.4.3]);
• 2014 ISDA Credit Derivatives Definitions ([3.4.4]);
• 1996 ISDA Equity Derivatives Definitions and 2002 ISDA Equity Derivatives Definitions ([3.5.1]);
• 1993 ISDA Commodity Derivatives Definitions (supplemented by the 2000 supplement), 1997 ISDA Bullion Definitions, 1997 ISDA Short Form Bullion Definitions and 2005 ISDA Commodity Definitions ([2.1.7]);
• GST and derivatives ([4.2.1]);
• ISDA 2005 Novation Protocol ([4.5.5.10]);
• EMU Protocol ([6.8.4]);
• Application of the Personal Property Securities Act 2009 (“PPSA”) to OTC derivative master agreements ([4.8]); and
• Review of ISDA Definitions and Australian Addenda ([5.1.2]).