# The Pension Fund Clearing Obligation Exemption (Amendment) Regulations 2025, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations amend the transitional provision in Article 89(1) 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 exempt certain pension fund derivative contracts from the clearing obligation provided for in Article 4 of UK EMIR. They remove the time limit that previously applied to this exemption.
A full impact assessment has not been produced for this instrument as no, or no significant, impact on the private, voluntary or public sector is foreseen. A de minimis impact assessment is available from HM Treasury, 1 Horse Guards Road, London, SW1A 2HQ and is published with the Explanatory Memorandum alongside this instrument at www.legislation.gov.uk.

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Source: https://www.legislation.gov.uk/ukdsi/2025/9780348270341/note (the official version)
Page: https://openlegislation.uk/draft-pension-fund-clearing-obligation-exemption-amendment-regulations-2025/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.