Source: http://law.ato.gov.au/atolaw/view.htm?locid='PAC/20010050/761A'&PiT=99991231235958
Timestamp: 2017-11-21 04:28:00
Document Index: 523761921

Matched Legal Cases: ['art 7', 'art 7', 'art 7', 'art 7', 'art 7', 'art 7']

SECTION 761A - DEFINITIONS
761A DEFINITIONS View history reference
able to be traded , in relation to a market, includes (but is not limited to) admitted to quotation on the market.
acquire , in relation to a financial product, has a meaning affected by section 761E.
annual turnover , of a body corporate during a 12-month period, means the sum of the values of all the supplies that the body corporate, and any body corporate related to the body corporate, have made, or are likely to make, during the 12-month period, other than:
Definition of annual turnover inserted by No 131 of 2010, Sch 1[11] (effective 13 December 2010).
arrangement means, subject to section 761B, a contract, agreement, understanding, scheme or other arrangement (as existing from time to time):
Australian CS facility licence means a licence under section 824B that authorises a person to operate a clearing and settlement facility.
Australian derivative trade repository licence : see section 905B.
Definition of Australian derivative trade repository licence inserted by No 178 of 2012, s 3, Sch 1, Pt 1[5] (effective 3 January 2013).
Australian financial services licence means a licence under section 913B that authorises a person who carries on a financial services business to provide financial services.
Australian market licence means a licence under section 795B that authorises a person to operate a financial market.
[CCH Note: Definition of authorised clearing and settlement facility will be inserted by No 25 of 2017, s 3, Sch 5[1] (effective 4 April 2018). The definition will read:
(i) the operator of the facility is authorised to operate the facility in the foreign country in which the operator's principal place of business is located;
authorised representative of a financial services licensee means a person authorised in accordance with section 916A or 916B to provide a financial service or financial services on behalf of the licensee.
basic deposit product means a deposit product that is a facility in relation to which the following conditions are satisfied:
(a) the terms applicable to the facility (the governing terms) do not permit the amount from time to time standing to the credit of the facility to be reduced otherwise than in consequence of one or more of the following:
Definition of basic deposit product amended by No 70 of 2015, s 3, Sch 1[29] (effective 1 July 2015).
Definition of basic deposit product amended by No 45 of 2008, s 3, Sch 2[5].
Definition of basic deposit product amended by No 141 of 2003, s 3, Sch 2[6] and [7].
binder means an authorisation given to a person by a financial services licensee who is an insurer to do either or both of the following:
body regulated by APRA (Repealed by No 141 of 2003, s 3, Sch 2[7A].)
carried on in this jurisdiction , in relation to a financial services business, has a meaning affected by section 911D.
certificate cancellation provisions , in relation to a prescribed CS facility, means the provisions of the facility's operating rules that deal with:
CGS depository interest means a depository interest, as defined in the Commonwealth Inscribed Stock Act 1911, that can be transferred through a licensed CS facility.
Definition of CGS depository interest inserted by No 155 of 2012, s 3, Sch 1[9] (effective 18 November 2012).
class , in relation to financial products or financial services, has a meaning affected by regulations made for the purposes of section 761CA.
clearing and settlement facility has the meaning given by Division 6.
Definition of clearing requirements inserted by No 178 of 2012, s 3, Sch 1, Pt 1[6] (effective 3 January 2013).
[CCH Note: Definition of client money reporting rules will be inserted by No 25 of 2017, s 3, Sch 5[6] (effective 4 April 2018). The definition will read:
crowd-funding service that a person provides has the meaning given by section 766F.
Definition of crowd-funding service inserted by No 17 of 2017, s 3, Sch 1[22] (effective 28 September 2017).
CS facility licensee means a person who holds an Australian CS facility licence.
current LVR:
(a) in relation to a standard margin lending facility - has the meaning given by subsection 761EA(3); and
(b) in relation to a non-standard margin lending facility - has the meaning given by subsection 761EA(6).
Definition of current LVR inserted by No 108 of 2009, Sch 1[2].
dealing in a financial product has the meaning given by section 766C (and deal has a corresponding meaning).
declared professional body (Repealed by No 141 of 2003, s 3, Sch 2[8].)
deposit product means a financial product described in paragraph 764A(1)(i).
derivative has the meaning given by section 761D.
[CCH Note: Definition of derivative retail client money and derivative retail client property will be inserted by No 25 of 2017, s 3, Sch 5[1] (effective 4 April 2018). The definitions will read:
derivative retail client money : money paid as mentioned in subsection 981A(1) is derivative retail client money if:
derivative retail client property : property given as mentioned in subsection 984A(1) is derivative retail client property if:
Definition of derivative trade data inserted by No 178 of 2012, s 3, Sch 1, Pt 1[7] (effective 3 January 2013).
Definition of derivative trade repository inserted by No 178 of 2012, s 3, Sch 1, Pt 1[8] (effective 3 January 2013).
Definition of derivative trade repository licensee inserted by No 178 of 2012, s 3, Sch 1, Pt 1[9] (effective 3 January 2013).
derivative trade repository rules : see subsection 903A(1).
Definition of derivative trade repository rules inserted by No 178 of 2012, s 3, Sch 1, Pt 1[10] (effective 3 January 2013).
(c) the assignment, by a party to such an arrangement, of some or all of the party's rights and obligations under the arrangement; or
Definition of derivative transaction inserted by No 178 of 2012, s 3, Sch 1, Pt 1[11] (effective 3 January 2013).
derivative transaction rules : see subsection 901A(1).
Definition of derivative transaction rules inserted by No 178 of 2012, s 3, Sch 1, Pt 1[12] (effective 3 January 2013).
dispose , in relation to a financial product, includes terminate or close out the legal relationship that constitutes the financial product.
disqualified individual means an individual who is disqualified within the meaning given by section 853A.
employer-sponsor has the same meaning as in the Superannuation Industry (Supervision) Act 1993.
Definition of employer-sponsor inserted by No 141 of 2003, s 3, Sch 2[9].
execution-related telephone advice (Repealed by No 141 of 2003, s 3, Sch 2[9A].)
Definition of execution requirements inserted by No 178 of 2012, s 3, Sch 1, Pt 1[13] (effective 3 January 2013).
FHSA product (Repealed by No 70 of 2015, s 3, Sch 1[30] (effective 1 July 2015).)
financial market has the meaning given by Division 5.
financial product has the meaning given by Division 3.
Note: References in this Chapter to financial products have effect subject to particular express exclusions for particular purposes - see e.g. sections 1010A and 1074A.
financial product advice has the meaning given by section 766B.
financial product advice law means:
financial service has the meaning given by Division 4.
financial services business means a business of providing financial services.
Note: The meaning of carry on a financial services business is affected by section 761C.
Financial Services Guide means a Financial Services Guide required by section 941A or 941B to be given in accordance with Division 2 of Part 7.7.
financial services law means:
(a) a provision of this Chapter or of Chapter 5C, 5D, 6, 6A, 6B, 6C or 6D; or
Definition of financial services law amended by No 108 of 2009, Sch 2[10-11].
funeral benefit means a benefit that consists of the provision of funeral, burial or cremation services, with or without the supply of goods connected with such services.
Definition of further market-related advice inserted by No 141 of 2003, s 3, Sch 2[9B].
general advice has the meaning given by subsection 766B(4).
general insurance product means a financial product described in paragraph 764A(1)(d).
holder , in relation to a financial product, means the person to whom the financial product was issued, or if it has (since issue) been disposed of to another person who has not themselves disposed of it, that other person (and hold has a corresponding meaning).
insurance product means a financial product described in paragraph 764A(1)(d), (e) or (f).
investment life insurance product means a financial product described in paragraph 764A(1)(f).
involved in a market licensee, CS facility licensee or derivative trade repository licensee, or in an applicant for such a licence, has the meaning given by section 853B.
Definition of involved in amended by No 178 of 2012, s 3, Sch 1, Pt 1[14] (effective 3 January 2013).
issue , in relation to a financial product, has a meaning affected by section 761E.
issuer , in relation to a financial product, has a meaning affected by section 761E.
kind , in relation to financial products or financial services, has a meaning affected by regulations made for the purposes of section 761CA.
licensed CS facility means a clearing and settlement facility the operation of which is authorised by an Australian CS facility licence.
Definition of licensed derivative trade repository inserted by No 178 of 2012, s 3, Sch 1, Pt 1[15] (effective 3 January 2013).
licensed market means a financial market the operation of which is authorised by an Australian market licence.
licensed trustee company has the same meaning as in Chapter 5D.
Definition of licensed trustee company inserted by No 108 of 2009, Sch 2[12].
life risk insurance product means a financial product described in paragraph 764A(1)(e).
limit, in relation to a margin lending facility, has the meaning given by subsection 761EA(11).
Definition of limit inserted by No 108 of 2009, Sch 1[3].
listing rules of a financial market, or proposed financial market, means any rules (however described) that are made by the operator of the market, or contained in the operator's constitution, and that deal with:
(a) admitting entities to, or removing entities from, the market's official list, whether for the purpose of enabling financial products of those entities to be traded on the market or for other purposes; or
lodge with ASIC , when used in a provision of this Chapter in relation to which regulations made for the purposes of this definition state that the lodgment is to be in a prescribed form, means lodge with ASIC in a prescribed form.
Note: See section 350 for the meaning of lodge in a prescribed form.
makes a market for a financial product has the meaning given by section 766D.
managed investment product means a financial product described in paragraph 764A(1)(b).
(a) in relation to a standard margin lending facility - has the meaning given by subsection 761EA(4); and
(b) in relation to a non-standard margin lending facility - has the meaning given by subsection 761EA(7); and
Definition of margin call inserted by No 108 of 2009, Sch 1[4].
margin lending facility has the meaning given by subsection 761EA(1).
Definition of margin lending facility inserted by No 108 of 2009, Sch 1[5].
market integrity rules means the rules made by ASIC under section 798G.
Definition of market integrity rules inserted by No 26 of 2010, Sch 1[6] (effective 1 August 2010).
market licensee means a person who holds an Australian market licence.
non-standard margin lending facility has the meaning given by subsection 761EA(5).
Definition of non-standard margin lending facility inserted by No 108 of 2009, Sch 1[6].
operated in this jurisdiction:
(a) in relation to a financial market, has a meaning affected by section 791D; and
(b) in relation to a clearing and settlement facility, has a meaning affected by section 820D.
(a) of a clearing and settlement facility, or proposed clearing and settlement facility, means any rules (however described) made by the operator of the facility, or contained in the operator's constitution, that deal with:
but does not include any such rules that deal with matters in respect of which licensed CS facilities must have written procedures under regulations made for the purposes of subsection 822A(2); or
(b) of a financial market, or proposed financial market, means any rules (however described), including the market's listing rules (if any), that are made by the operator of the market, or contained in the operator's constitution, and that deal with:
(iii) any such rules that deal with matters in respect of which licensed markets must have written procedures under regulations made for the purposes of subsection 793A(2); or
(iv) compensation rules within the meaning of Part 7.5.
(a) in relation to a clearing and settlement facility, means a person who is allowed to directly participate in the facility under the facility's operating rules and, when used in any of the following provisions, also includes a recognised affiliate in relation to the facility:
(i) paragraph 821B(2)(b);
(ii) section 822B;
(iii) subsection 915F(2);
(b) in relation to a financial market, means a person who is allowed to directly participate in the market under the market's operating rules and, when used in any of the following provisions, also includes a recognised affiliate in relation to the market:
(i) paragraph 792B(2)(b);
(ii) section 793B;
(iii) section 883A;
(iv) subsection 915F(2);
person has a meaning affected by section 761F (which deals with partnerships) and section 761FA (which deals with multiple trustees).
personal advice has the meaning given by subsection 766B(3).
prescribed CS facility means a licensed CS facility that is prescribed by regulations made for the purposes of this definition.
Definition of prescribed derivative trade repository inserted by No 178 of 2012, s 3, Sch 1, Pt 1[16] (effective 3 January 2013).
Product Disclosure Statement means a Product Disclosure Statement:
(a) required by section 1012A, 1012B, 1012C or 1012I to be given in accordance with Division 2 of Part 7.9; or
(b) that section 1012H requires an issuer of a financial product to take reasonable steps to ensure is given to a new group member in accordance with Division 2 of Part 7.9.
Definition of Product Disclosure Statement (Note) inserted by No 101 of 2007, s 3, Sch 1, Pt 1[93].
provide , in relation to a financial product, has a meaning affected by section 761E.
recognised affiliate , in relation to a clearing and settlement facility or a financial market, means a person who is:
Definition of registrable superannuation entity inserted by No 171 of 2012, s 3, Sch 3, Pt 1[7] (effective 1 July 2013).
relevant personal circumstances , in relation to advice provided or to be provided to a person in relation to a matter, are such of the person's objectives, financial situation and needs as would reasonably be considered to be relevant to the advice.
Replacement Product Disclosure Statement has the meaning given by section 1014H.
Definition of Replacement Product Disclosure Statement inserted by No 101 of 2007, s 3, Sch 1, Pt 1[94].
Definition of reporting requirements inserted by No 178 of 2012, s 3, Sch 1, Pt 1[17] (effective 3 January 2013).
retail client has the meaning given by sections 761G and 761GA.
Definition of retail client amended by No 101 of 2007, s 3, Sch 1, Pt 1[95].
[CCH Note: Act No 101 of 2007, Sch 1, Pt 6[238] contained the following application provision (which was effective 28 June 2007):
risk insurance product means a financial product described in paragraph 764A(1)(d) or (e).
RSA product means a financial product described in paragraph 764A(1)(h).
(ii) an interest or right covered by paragraph 764A(1)(b) or (ba); or
but does not include an excluded security. In Part 7.11, it also includes a managed investment product.
Definition of security amended by No 100 of 2014, s 3, Sch 1[45] and [46] (effective 19 December 2014).
Definition of security amended by No 155 of 2012, s 3, Sch 1[10]-[11] (effective 18 November 2012).
Definition of security amended by No 101 of 2007, s 3, Sch 1, Pt 1[96].
Definition of self-managed superannuation fund inserted by No 141 of 2003, s 3, Sch 2[10].
standard margin lending facility has the meaning given by subsection 761EA(2).
Definition of standard margin lending facility inserted by No 108 of 2009, Sch 1[7].
Statement of Advice means a Statement of Advice required by section 946A to be given in accordance with Subdivisions C and D of Division 3 of Part 7.7.
Definition of superannuation entity inserted by No 141 of 2003, s 3, Sch 2[11].
superannuation product means a financial product described in paragraph 764A(1)(g).
Supplementary Financial Services Guide has the meaning given by section 943A.
Supplementary Product Disclosure Statement has the meaning given by section 1014A.
title document , for a financial product, means a certificate or other document evidencing ownership of the financial product.
traditional trustee company services has the same meaning as in Chapter 5D.
Definition of traditional trustee company services inserted by No 108 of 2009, Sch 2[13].
trustee company has the same meaning as in Chapter 5D.
Definition of trustee company inserted by No 108 of 2009, Sch 2[14].
S 761A inserted by No 122 of 2001, s 3, Sch 1, Pt 1[1].