Document ID: chunk:federal_register_of_legislation:F2024C00456:body:0:p3
Version: federal_register_of_legislation:F2024C00456
Segment Type: other
Provision Reference: 
Character Range: 5234–7991

of the trust; or
(iv) the holder defaults under the warrant.
(6D) If an issuer of a put warrant has a relevant interest in securities because subsection (6C) ceases to apply, the issuer is taken to acquire a relevant interest in the securities at that time, by a transaction in relation to the securities.
Warrant trustees
(6E) Subsection (2) applies to a person (the trustee) who would otherwise have a relevant interest in securities as a trustee under a trust for the purpose of satisfying rights or obligations of the issuer or holder of a warrant to which the securities relate because the trustee:
(a) holds the securities; or
(b) would so hold such securities on trust but for dealing in the securities under a securities lending arrangement in accordance with the terms of the trust deed on ordinary commercial terms:
despite:
(c) the trustee having any of the following discretions which, under the terms of the trust deed relating to the warrant, may only be exercised on ordinary commercial terms or in an ordinary commercial manner as the case requires:
(i) discretions where the issuer or holder of the warrant becomes insolvent or breaches a term of the warrant;
(ii) discretions in relation to bonus issues, rights issues, returns of capital, security splits, security consolidations or other reconstructions of capital affecting the securities;
(iii) discretions in relation to a takeover bid for or a compromise or arrangement under Part 5.1 affecting the issuer of the securities but not in relation to voting or disposal of the securities;
(iv) discretions to deal in the securities under a securities lending arrangement;
(d) the holder of the warrant not having a presently enforceable or unconditional right of the kind referred to in subsection 608(8).
(6F) In subsection (6) and subsections (6A) to (6F):
                  call warrant means a security or derivative that:
(a) confers on the holder a right, but not the obligation, to acquire securities by way of transfer; and
(b) is issued under a Product Disclosure Statement; and
(c) is admitted to quotation on the financial market operated by ASX Limited or Cboe Australia Pty Ltd.
holder, in relation to a warrant, means a person who has a legal or equitable interest in the warrant.
                  put warrant means a security or derivative that:
(a) confers on the holder a right, but not the obligation, to sell securities by way of transfer; and
(b) is issued under a Product Disclosure Statement; and
(c) is admitted to quotation on the financial market operated by ASX Limited or Cboe Australia Pty Ltd.
                  securities lending arrangement means:
(a) an arrangement under which:
(i) one entity (the lender) agrees that it will:
(A) deliver the securities