Document ID: chunk:federal_register_of_legislation:C2025C00185:section:765a:p2
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 765A (pt 2/3)
Character Range: 3027859–3030406

something that is not a managed investment scheme because of paragraph (c), (e), (f), (k), (l) or (m) of the definition of managed investment scheme in section 9;
 (ii) a legal or equitable right or interest in an interest covered by subparagraph (i);
 (iii) an option to acquire, by way of issue, an interest or right covered by subparagraph (i) or (ii);
 (s) any of the following in relation to a managed investment scheme (whether or not operated in this jurisdiction) in relation to which none of paragraphs 601ED(1)(a), (b) and (c) are satisfied and that is not a registered scheme or a notified foreign passport fund:
 (i) an interest in the scheme;
 (ii) a legal or equitable right or interest in an interest covered by subparagraph (i);
 (iii) an option to acquire, by way of issue, an interest or right covered by subparagraph (i) or (ii);
 (t) a deposit‑taking facility that is, or is used for, State banking;
 (u) a benefit provided by an association of employees that is registered as an organisation, or recognised, under the Fair Work (Registered Organisations) Act 2009 for a member of the association or a dependant of a member;
 (v) either of the following:
 (i) a contract of insurance; or
 (ii) a life policy or a sinking fund policy, that is not a contract of insurance;
  issued by an employer to an employee of the employer;
 (w) a funeral benefit;
 (x) physical equipment or physical infrastructure by which something else that is a financial product is provided;
 (y) a facility, interest or other thing declared by regulations made for the purposes of this subsection not to be a financial product;
 (z) a facility, interest or other thing declared by ASIC under subsection (2) not to be a financial product.

ASIC declarations
 (2) ASIC may declare that a specified facility, interest or other thing is not a financial product. The declaration must be in writing and ASIC must publish notice of it in the Gazette.

Regulations
 (3) Despite anything in Subdivision B or C, the regulations may declare that a specified facility, interest or other thing is not a financial product for the purposes of specified provisions of this Chapter.
 (4) A declaration under subsection (2) that is inconsistent with regulations made for the purposes of subsection (3) has no effect to the extent of the inconsistency, but a declaration is taken to be consistent with the regulations to the extent that the declaration is capable of operating concurrently with the regulations.

Division 4—Meaning of financial service and related terms