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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.1 - PRELIMINARY    View history reference

Division 3 - What is a financial product?    View history reference

Subdivision B - The general definition    View history reference

SECTION 763A  GENERAL DEFINITION OF FINANCIAL PRODUCT  

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763A(1)  [``financial product'']  


For the purposes of this Chapter, a financial product is a facility through which, or through the acquisition of which, a person does one or more of the following:


(a) makes a financial investment (see section 763B);


(b) manages financial risk (see section 763C);


(c) makes non-cash payments (see section 763D).

This has effect subject to section 763E.

763A(2)  [``financial product'']  


For the purposes of this Chapter, a particular facility that is of a kind through which people commonly make financial investments, manage financial risks or make non-cash payments is a financial product even if that facility is acquired by a particular person for some other purpose.

763A(3)  [Financial product acquired by another]  


A facility does not cease to be a financial product merely because:


(a) the facility has been acquired by a person other than the person to whom it was originally issued; and


(b) that person, in acquiring the product, was not making a financial investment or managing a financial risk.


 



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