Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:1:p43
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 1 (pt 43/148)
Character Range: 439890–442705

tradeable water rights;
 (b) an arrangement:
 (i) under which a person (the seller) has, or may have, an obligation to sell tradeable water rights at a future date; and
 (ii) under which another person (the buyer) has, or may have, an obligation to buy the tradeable water rights, or replacement water rights, at a future date; and
 (iii) that does not permit the seller's obligations to be wholly settled by cash, or by set‑off between the seller and the buyer, rather than by transfer of ownership of the tradeable water rights or replacement water rights; and
 (iv) in relation to which neither usual market practice, nor the rules of a licensed market or of a licensed CS facility, allow the seller's obligations to be closed out by matching up the arrangement with another arrangement of the same kind under which the seller has offsetting obligations to buy the tradeable water rights or replacement water rights;
 (c) a carbon abatement contract.
Note: For carbon abatement contract, see subregulation 1.0.02(1).
 (9) Subregulations (4) to (8) apply whether or not a matter mentioned in those subregulations is described in subsection 761D(1) of the Act.
 (10) In subregulation (8):
replacement water rights means tradeable water rights that are granted, issued or authorised as a replacement for the seller's tradeable water rights, including as a result of transformation arrangements mentioned in subsection 97(1) of the Water Act 2007.
tradeable water rights has the same meaning as in the Water Act 2007.

7.1.04A  Meaning of kind of financial products (section 1012IA of the Act)
 (1) For section 761CA of the Act, this regulation applies in relation to paragraph (a) of the definition of custodial arrangement in subsection 1012IA(1) of the Act.
 (2) Each of the following is a kind of financial product:
 (a) for interests in a managed investment scheme, all the interests in that managed investment scheme;
 (b) in any other case, all the financial products issued by a person or the person's related bodies corporate.

7.1.04B  Meaning of class of financial products (managed investment schemes)
 (1) For section 761CA of the Act, this regulation applies in relation to paragraph 1017F(4)(d) of the Act.
 (2) An interest in a managed investment scheme is in the same class as another interest in a managed investment scheme if they are both interests in the same managed investment scheme.

7.1.04C  Meaning of class of financial products (superannuation products)
 (1) For section 761CA of the Act, this regulation applies in relation to paragraph 1017F(4)(d) of the Act.
 (2) A superannuation product is in the same class as another superannuation product if they are both issued by the same superannuation entity.

7.1.04CAA  Meaning of claimant intermediary—persons excluded from being claimant