Document ID: chunk:federal_register_of_legislation:F2024C01107:body:0:p15
Version: federal_register_of_legislation:F2024C01107
Segment Type: other
Provision Reference: 
Character Range: 40029–42843

Government Debt Instrument means any form of government financial instrument including a bond, treasury note or other short term instrument, and a Debt Derivative of any of those instruments where:
(a)        it is issued by, fully guaranteed by, or fully collateralised by a Debt Instrument issued by:
(i)         the Australian Commonwealth, State (including Territory) governments; or
(ii)       a central government or central bank within the OECD;
(b)       it is issued by, or fully guaranteed by, a non-OECD country central government or central bank, has a residual maturity of one year or less and is denominated in local currency and funded by liabilities in the same currency.
Group of Connected Persons means two or more persons or entities where:
(a)        each person or entity is a Related/Associated Person of each other person or entity; or
(b)       the persons who have control of the management of each entity or have been appointed as directors of each entity are substantially the same.
Hybrid ETF means a managed fund:
(a)        that is listed and quoted on a stock exchange (and in Australia is registered as a managed investment scheme under the Corporations Act); and
(b)       where, under an open prospectus, the units can only be subscribed for and redeemed in cash or in kind; and
(c)        that is subscribed for and redeemed in a "primary" market and existing units are traded in a "secondary" market; or
(d)       that does not satisfy all of the requirements of a Classical ETF but satisfies the three criteria referred to in paragraphs (a), (b) and (c).
Immediate Family in relation to a person, means that person's spouse and any non-adult children.
In the Money means:
(a)        in relation to call Options, that the current market price of the underlying instrument is greater than the exercise price; and
(b)       in relation to put Options, that the current market price of the underlying instrument is less than the exercise price.
Issuer means, in relation to a Cash Market Product, an Equity Market Product or other financial product able to be traded on a Market, the legal entity which issues the relevant product.
Large Exposure Risk Requirement is the absolute sum of a Market Participant's:
(a)        counterparty large exposure risk amount calculated in accordance with Annexure 2 to Schedule 1A; and
(b)       issuer large exposure risk amount calculated in accordance with Annexure 2 to Schedule 1A.
Liquid means realisable or otherwise convertible to cash within 31 days and in the case of a Financial Instrument, means the Financial Instrument meets the following criteria:
(a)        there are genuine independent offers from third parties to the Market Participant;
(b)       prices or rates exist that closely approximate the last sale price or rate in