106 STAT. 3630 PUBLIC LAW 102-546—OCT. 28, 1992 both, from any of the requirements of subsection (a), or from any other provision of this Act (except section 2(a)(l)(B)), if the Commission determines that the exemption would be consistent with the public interest." "(2) The Commission shall not grant any exemption under paragraph (1) from any of the requirements of subsection (a) unless the Commission determines that— "(A) the requirement should not be applied to the agreement, contract, or transaction for which the exemption is sought and that the exemption would be consistent with the public interest and the purposes of this Act; and "(B) the agreement, contract, or transaction— "(i) will be entered into solely between appropriate persons; and "(ii) will not have a material adverse effect on the ability of the Commission or any contract market to discharge its regulatory or self-regulatory duties under this Act. "(3) For purposes of this subsection, the term 'appropriate person' shall be limited to the following persons or classes thereof: "(A) A bank or trust company (acting in an individual or fiduciary capacity). "(B) A savings association. "(C) An insurance company. "(D) An investment company subject to regulation under the Investment Company Act of 1940 (15 U.S.C. 80a-l et seq.). "(E) A commodity pool formed or operated by a person subject to regulation under this Act. "(F) A corporation, partnership, proprietorship, organization, trust, or other business entity with a net worth exceeding $1,000,000 or total assets exceeding $5,000,000, or the obligations of which under the agreement, contract or transaction are guaranteed or otherwise supported by a letter of credit or keepwell, support, or other agreement by any such entity or by an entity referred to in subparagraph (A), (B), (C), (H), (I), or (K) of this paragraph. "(G) An employee benefit plan with assets exceeding $1,000,000, or whose investment decisions are made by a bank, trust company, insurance company, investment adviser registered under the Investment Advisers Act of 1940 (15 U.S.C. 80a-l et seq.), or a commodity trading advisor subject to regulation under this Act. "(H) Any governmental entity (including the United States, any state, or any foreign government) or political subdivision thereof, or any multinational or supranational entity or any instrumentality, agency, or department of any of the foregoing. "(I) A broker-dealer subject to regulation under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) acting on its own behalf or on behalf of another appropriate person. "(J) A futures commission merchant, floor broker, or floor trader subject to regulation under this Act acting on its own behalf or on behalf of another appropriate person. "(K) Such other persons that the Commission determines to be appropriate in light of their financial or other qualifications, or the applicability of appropriate regulatory protections.
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