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group liquidity low frequency reporting conditions

34(in relation to a group liquidity reporting firm and its defined liquidity group) the defined liquidity group meets the group liquidity low frequency reporting conditions if the defined liquidity group meets the following conditions:

  1. (a) the firm or any other member is a low frequency liquidity reporting firm; and
  2. (b) no member of that group is a standard frequency liquidity reporting firm.

For the purpose of deciding whether these conditions are met in relation to a DLG by default, any group member (other than the group liquidity reporting firm itself) that is a member of the group through no more than a participation is ignored.