The term “eligible contract participant” means—
(A)
acting for its own account—
(ii)
an insurance company that is
regulated by a State, or that is regulated by a foreign government and
is subject to comparable regulation as determined by the Commission,
including a regulated subsidiary or affiliate of such an insurance
company;
(iii)
an investment company subject to regulation under the Investment Company Act of 1940 (15 U.S.C. 80a–1
et seq.) or a foreign person performing a similar role or function
subject as such to foreign regulation (regardless of whether each
investor in the investment company or the foreign person is itself an
eligible contract participant);
(iv)
a commodity pool that—
(II)
is formed and operated by a
person subject to regulation under this chapter or a foreign person
performing a similar role or function subject as such to foreign
regulation (regardless of whether each investor in the commodity pool or
the foreign person is itself an eligible contract participant)
provided, however, that for purposes of section
2
(c)(2)(B)(vi) of this title and section
2
(c)(2)(C)(vii)
of this title, the term “eligible contract participant” shall not
include a commodity pool in which any participant is not otherwise an
eligible contract participant;
(v)
a corporation, partnership, proprietorship, organization, trust, or other entity—
(II)
the obligations of which under
an agreement, contract, or transaction are guaranteed or otherwise
supported by a letter of credit or keepwell, support, or other agreement
by an entity described in subclause (I), in clause (i), (ii), (iii),
(iv), or (vii), or in subparagraph (C); or
(vi)
an employee benefit plan subject to the Employee Retirement Income Security Act of 1974 (29 U.S.C. 1001
et seq.), a governmental employee benefit plan, or a foreign person
performing a similar role or function subject as such to foreign
regulation—
(vii)
(I)
a governmental entity
(including the United States, a State, or a foreign government) or
political subdivision of a governmental entity;
(III)
an instrumentality, agency, or department of an entity described in subclause (I) or (II);
except that such term
does not include an entity, instrumentality, agency, or department
referred to in subclause (I) or (III) of this clause unless (aa) the
entity, instrumentality, agency, or department is a person described in
clause (i), (ii), or (iii) of paragraph (17)(A); (bb) the entity,
instrumentality, agency, or department owns and invests on a
discretionary basis $50,000,000 or more in investments; or (cc) the
agreement, contract, or transaction is offered by, and entered into
with, an entity that is listed in any of subclauses (I) through (VI) of
section
2
(c)(2)(B)(ii) of this title;
(viii)
(I)
a broker or dealer subject to regulation under the Securities Exchange Act of 1934 (15 U.S.C. 78a
et seq.) or a foreign person performing a similar role or function
subject as such to foreign regulation, except that, if the broker or
dealer or foreign person is a natural person or proprietorship, the
broker or dealer or foreign person shall not be considered to be an
eligible contract participant unless the broker or dealer or foreign
person also meets the requirements of clause (v) or (xi);
(ix)
a futures commission merchant
subject to regulation under this chapter or a foreign person performing a
similar role or function subject as such to foreign regulation, except
that, if the futures commission merchant or foreign person is a natural
person or proprietorship, the futures commission merchant or foreign
person shall not be considered to be an eligible contract participant
unless the futures commission merchant or foreign person also meets the
requirements of clause (v) or (xi);
(x)
a floor broker or floor trader
subject to regulation under this chapter in connection with any
transaction that takes place on or through the facilities of a
registered entity (other than an electronic trading facility with
respect to a significant price discovery contract) or an exempt board of
trade, or any affiliate thereof, on which such person regularly trades;
or
(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 [15 U.S.C. 80b–1
et seq.], a commodity trading advisor subject to regulation under this
chapter, 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.
