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Delegated Regulation (EU) 2017/579 · binding · OJ L 87, 31.3.2017 · dated 13 Jun 2016 [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":"2016-06-13","entry_into_force":"2017-04-20","locators":{"document_date":"CELLAR 32017R0579 work_date_document","entry_into_force":"CELLAR 32017R0579 resource_legal_date_entry-into-force (earliest)"}},"adoption":null},"context":{"act":{"work_id":"spaces/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of","path":"/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of","name":"Commission Delegated Regulation (EU) 2017/579","number":"2017/579","celex":"32017R0579","title_official":"COMMISSION DELEGATED REGULATION (EU) 2017/579 of 13 June 2016 supplementing Regulation (EU) No 600/2014 of the European Parliament and of the Council on markets in financial instruments with regard to regulatory technical standards on the direct, substantial and foreseeable effect of derivative contracts within the Union and the prevention of the evasion of rules and obligations (Text with EEA relevance)","document_date":"2016-06-13"},"position":{"kind":"article","key":"3","index":3,"articles":4,"annexes":0},"prev":{"path":"/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/2","key":"2","title":"Article 2 — Contracts with a direct, substantial and foreseeable effect within the Union"},"next":{"path":"/mifir/level-2/rts/2017-579-the-direct-substantial-and-foreseeable-effect-of/articles/4","key":"4","title":"Article 4 — Entry into force and 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shall be deemed to have been designed to circumvent the application of any provision of Regulation (EU) No 600/2014 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.\n1. <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 600/2014 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 600/2014 that would otherwise apply including when it is part of an artificial arrangement or artificial series of arrangements.\n1. <a id=\"art-3-p-3\"></a>An arrangement that intrinsically lacks business rationale, commercial substance or relevant 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