Page:United States Statutes at Large Volume 114 Part 5.djvu/411

 PUBLIC LAW 106-554—APPENDIX E 114 STAT. 2763A-371 "(xi) an individual who has total assets in an amount in excess of— "(I) $10,000,000; or "(II) $5,000,000 and who enters into the agreement, contract, or transaction in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the individual; "(B)(i) a person described in clause (i), (ii), (iv), (v), (viii), (ix), or (x) of subparagraph (A) or in subparagraph (C), acting as broker or performing an equivalent agency function on behalf of another person described in subparagraph (A) or (C); or "(ii) an investment adviser subject to regulation under the Investment Advisers Act of 1940, a commodity trading advisor subject to regulation under this Act, a foreign person performing a similar role or function subject as such to foreign regulation, or a person described in clause (i), (ii), (iv), (v), (viii), (ix), or (x) of subparagraph (A) or in subparagraph (C), in any such case acting as investment manager or fiduciary (but excluding a person acting as broker or performing an equivalent agency function) for another person described in subparagraph (A) or (C) and who is authorized by such person to commit such person to the transaction; or "(C) any other person that the Commission determines to be eligible in light of the financial or other qualifications of the person. "(13) EXCLUDED COMMODITY. —The term 'excluded commodity' means— "(i) an interest rate, exchange rate, currency, security, security index, credit risk or measure, debt or equity instrument, index or measure of inflation, or other macroeconomic index or measure; "(ii) any other rate, differential, index, or measure of economic or commercial risk, return, or value that is— "(I) not based in substantial part on the value of a narrow group of commodities not described in clause (i); or "(II) based solely on one or more commodities that have no cash market; "(iii) any economic or commercial index based on prices, rates, values, or levels that are not within the control of any party to the relevant contract, agreement, or transaction; or "(iv) an occurrence, extent of an occurrence, or contingency (other than a change in the price, rate, value, or level of a commodity not described in clause (i)) that is— "(I) beyond the control of the parties to the relevant contract, agreement, or transaction; and "(II) associated with a financial, commercial, or economic consequence. "(14) EXEMPT COMMODITY. — The term 'exempt commodity' means a commodity that is not an excluded commodity or an agricultural commodity.

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