Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p10
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 10/148)
Character Range: 353374–356001

and any other rights or entitlements in respect of a mortgage or pool of mortgages; or
 (ii) any amount payable by the mortgagor or mortgagors under a mortgage or mortgages (whether or not the amount is payable to the holder of, or beneficial owner under, the interest on the same terms as under the mortgage or mortgages); or
 (iii) payments that are derived mainly from the income or receipts of a mortgage or pool of mortgages;
  and that may, in addition, entitle the holder, or beneficial owner, to a transfer or assignment of the mortgage or mortgages; or
 (b) a debt security (whether or not in writing) the payments under which by the person who issues or makes the debt security are derived mainly from the income or receipts of a mortgage or pool of mortgages; or
 (c) any of the following:
 (i) an interest in a trust:
 (A) creating a right or interest (whether described as a unit, bond or otherwise) for a beneficiary; or
 (B) conferring a right or interest (whether described as a unit, bond or otherwise) on a beneficiary; or
 (C) consisting of a right or interest (whether described as a unit, bond or otherwise) of a beneficiary;
  in a scheme under which any profit or income in which the beneficiaries share arises from the acquisition, holding, management or disposal of a mortgage, pool of mortgages or the income or receipts of a mortgage or pool of mortgages;
 (ii) any instrument that evidences a right or interest mentioned in subparagraph (i);
 (iii) a security (whether or not in writing) the payments under which by the person who issues or makes the security are derived mainly from the income or receipts of a mortgage or pool of mortgages;
 (iv) an interest in a trust or a debt security (whether or not in writing);
 (v) an instrument or property that creates an interest in, or charge over an interest in, a trust;
 (vi) a debt security (whether or not in writing);
 (vii) any other property to which paragraph (a) or (b) or subparagraph (i), (ii) or (iii) applies.
 (2) However, a mortgage‑backed security does not include an instrument or property consisting of any of the following:
 (a) a mortgage;
 (b) the transfer of a mortgage;
 (c) a declaration of trust.

5D.1.04  Interaction between trustee company provisions and State and Territory laws
 (1) For paragraph 601RAE(4)(a) of the Act, the trustee company provisions are intended to apply to the exclusion of the provisions of State or Territory laws prescribed in Schedule 8AB.
 (2) For paragraph 601RAE(4)(b) of the Act, the trustee company provisions are intended not to apply to the exclusion of the State or Territory laws, or the