Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_1010c
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 1010C
Character Range: 505566–506264

1010C  Special provisions about meaning of sale and offer

 (1) For the purposes of this Part, a reference to a sale or purchase of a financial product is a reference to a sale of the product by, or a purchase of the product from, a person who has (whether by issue or otherwise) acquired the product. The issue of a financial product is not a sale of the financial product.

 (2) For the purposes of this Part:
 (a) a reference to offering to issue a financial product includes a reference to inviting an application for the issue of the financial product; and
 (b) a reference to offering to sell a financial product includes a reference to inviting an offer to purchase the financial product.