Document ID: chunk:federal_register_of_legislation:C2024C00373:section:5:p1
Version: federal_register_of_legislation:C2024C00373
Segment Type: section
Provision Reference: s 5 (pt 1/7)
Character Range: 4281–7140

5  Definitions
  In this Act, unless the contrary intention appears:
ADI means an authorised deposit‑taking institution within the meaning of the Banking Act 1959.
approved netting arrangement means a netting arrangement approved under section 12.
approved RTGS system means a payment or settlement system approved under section 9.
APRA means the Australian Prudential Regulation Authority.
Banking Act statutory manager has the same meaning as in the Banking Act 1959.
Business Transfer Act means the Financial Sector (Transfer and Restructure) Act 1999.
close‑out netting contract means:
 (a) a contract under which, if a particular event happens:
 (i) particular obligations of the parties terminate or may be terminated; and
 (ii) the termination values of the obligations are calculated or may be calculated; and
 (iii) the termination values are netted, or may be netted, so that only a net cash amount (whether in Australian currency or some other currency) is payable; or
 (b) a contract declared by the regulations to be a close‑out netting contract for the purposes of this Act;
but does not include:
 (c) a contract that constitutes, or is part of, an approved netting arrangement; or
 (d) a contract in relation to which a declaration under section 15 is in force; or
 (e) a contract declared by the regulations to not be a close‑out netting contract for the purposes of this Act.
Commonwealth constitutional reach: a contract or arrangement is entered into in circumstances that are within Commonwealth constitutional reach if:
 (a) a constitutional corporation is a party to the contract or arrangement; or
 (b) the contract or agreement has a significant effect on the business affairs, or an activity, of a constitutional corporation; or
 (c) the contract or arrangement is entered into in the course of, for the purposes of or in relation to one or more of the following:
 (i) dealings in currency, bills of exchange or promissory notes;
 (ii) money borrowed on the public credit of the Commonwealth;
 (iii) trade and commerce between Australia and places outside Australia or between places outside Australia;
 (iv) trade or commerce among the States;
 (v) trade or commerce within a Territory, between a State and a Territory or between 2 Territories;
 (vi) banking (other than State banking);
 (vii) insurance (other than State insurance); or
 (d) the contract or arrangement is entered into by means of or in relation to, postal, telegraphic, telephonic or other like services.
constitutional corporation means:
 (a) a foreign corporation; or
 (b) a trading or financial corporation formed within the limits of the Commonwealth.
derivative has the same meaning as in Chapter 7 of the Corporations Act 2001.
direction stay provision means any of the following:
 (aa) subsection 11CAC(2) of the Banking Act 1959;
 (a) subsection 11CD(1A) of