52Deemed exemption for gas trading exchange transactions

52  Deemed exemption for gas trading exchange transactions

 (1) Subsections 26(1) and 27(1) do not apply if all of the following conditions are met:

 (a) the agreement results directly from a transaction on a gas trading exchange;

 (b) the transaction is not any of the following:

 (i) a Pre‑matched Trade (within the meaning of the gas trading exchange agreement for the gas trading exchange);

 (ii) a Broker Pre‑matched Trade (within the meaning of the gas trading exchange agreement for the gas trading exchange).

 (2) Subsections 26(1) and 27(1) do not apply if all of the following conditions are met:

 (a) the agreement results directly from a transaction on a gas trading exchange;

 (b) the transaction is any of the following:

 (i) a Pre‑matched Trade (within the meaning of the gas trading exchange agreement for the gas trading exchange);

 (ii) a Broker Pre‑matched Trade (within the meaning of the gas trading exchange agreement for the gas trading exchange);

 (c) under the agreement mentioned in paragraph (a), all of the regulated gas to be supplied under that agreement is to be so supplied no later than the end of the period that:

 (i) starts at the time when that agreement is entered into; and

 (ii) ends at the end of the third gas day starting after that time;

 (d) all of the regulated gas to be supplied under that agreement is so supplied before the end of that period.

 (3) Subsection 28(1) does not apply if all of the following conditions are met:

 (a) under the offer made on the gas trading exchange, all of the regulated gas to be supplied in accordance with the offer is to be so supplied no later than the end of the period that:

 (i) starts at the time when the offer is made; and

 (ii) ends at the end of the third gas day starting after that time;

 (b) all of the regulated gas to be supplied in accordance with the offer is so supplied before the end of that period.

 (4) Subsection 28(1) does not apply if the offer is for a transaction that is any of the following:

 (a) a Pre‑matched Trade (within the meaning of the gas trading exchange agreement for the gas trading exchange);

 (b) a Broker Pre‑matched Trade (within the meaning of the gas trading exchange agreement for the gas trading exchange).