{"release":{"id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","published":"2026-11-01T16:41:30Z","pinned":false},"limits":{"coverage":{"history":"current_only","held_since":"2026-10-26","gaps":[],"covered":["285/2014 — RTS — Direct, substantial and foreseeable effect of contracts [in force] L2"],"not_covered":["national guidance","court decisions"]},"freshness":{"release_id":"a4f2a0495fe55b47323883f82977a9b34ab66171ec9623e39925d3a7045b6c81","release_published":"2026-11-01T16:41:30Z","checked_at":"2026-10-26","checked_against":"EUR-Lex"},"truncation":null,"failures":[],"incomplete":[]},"page":{"path":"/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts/articles/3","url":"https://www.headlesslaw.com/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts/articles/3","title":"Article 3 — Cases where it is necessary or appropriate to prevent the evasion of rules or obligations provided for in Regulation (EU) No 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Delegated Regulation (EU) No 285/2014 · binding · OJ L 85, 21.3.2014 · dated 13 Feb 2014 [in force]","attribution":{"prepared_by":"European Commission","published_by":"Publications Office of the EU","published_in":"Official Journal of the European Union","document_type":"delegated_regulation","legal_nature":"binding_adopted","addressees":"not stated in the document","dates":{"document_date":"2014-02-13","entry_into_force":"2014-04-10","locators":{"document_date":"CELLAR 32014R0285 work_date_document","entry_into_force":"CELLAR 32014R0285 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts","path":"/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts","name":"Commission Delegated Regulation (EU) No 285/2014","number":"285/2014","celex":"32014R0285","title_official":"COMMISSION DELEGATED REGULATION (EU) No 285/2014 of 13 February 2014 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council with regard to regulatory technical standards on direct, substantial and foreseeable effect of contracts within the Union and to prevent the evasion of rules and obligations (Text with EEA relevance)","document_date":"2014-02-13"},"position":{"kind":"article","key":"3","index":3,"articles":4,"annexes":0},"prev":{"path":"/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts/articles/2","key":"2","title":"Article 2 — Contracts with a direct, substantial and foreseeable effect within the Union"},"next":{"path":"/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts/articles/4","key":"4","title":"Article 4 — Entry into force"},"act_anchor":"#art-3"}},"provenance":{"official_url":"https://eur-lex.europa.eu/eli/reg_del/2014/285/oj/eng","check":{"result":"matched","checked_at":"2026-10-26","against":"EUR-Lex"},"repo_path":"spaces/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts.md","unit_text_sha256":"7985193d87d2e6d080daf9000fddd84182d4c0e7d75ab69da2a1d12554aa6f33","note":"the unit is a byte-exact part of the act page, whose check record covers it"},"unit":{"locator":"spaces/emir/level-2/rts/285-2014-direct-substantial-and-foreseeable-effect-of-contracts/art-3","kind":"article","key":"3","heading":"Article 3 — Cases where it is necessary or appropriate to prevent the evasion of rules or obligations provided for in Regulation (EU) No 648/2012","text":"## <a id=\"art-3\"></a>Article 3 — Cases where it is necessary or appropriate to prevent the evasion of rules or obligations provided for in Regulation (EU) No 648/2012\n\n1. <a id=\"art-3-p-1\"></a>An OTC derivative contract shall be deemed to have been designed to circumvent the application of any provision of Regulation (EU) No 648/2012 if the way in which that contract has been concluded is considered, when viewed as a whole and having regard to all the circumstances, to have as its primary purpose the avoidance of the application of any provision of that Regulation.\n\n2. <a id=\"art-3-p-2\"></a>For the purposes of paragraph 1, a contract shall be considered as having for primary purpose the avoidance of the application of any provision of Regulation (EU) No 648/2012 if the primary purpose of an arrangement or series of arrangements related to the OTC derivative contract, is to defeat the object, spirit and purpose of any provision of Regulation (EU) No 648/2012 that would otherwise apply including when it is part of an artificial arrangement or artificial series of arrangements.\n\n    An arrangement that intrinsically lacks business rationale, commercial substance or relevant economic justification and consists of any contract, transaction, scheme, action, operation, agreement, grant, understanding, promise, undertaking or event shall be considered an artificial arrangement. The arrangement may comprise more than one step or part.\n\n","marks":[],"text_hash":"7985193d87d2e6d080daf9000fddd84182d4c0e7d75ab69da2a1d12554aa6f33","revision":1}}