Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_763a
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 763A
Character Range: 46490–47485

763A  General definition of financial product

 (1) For the purposes of this Chapter, a financial product is a facility through which, or through the acquisition of which, a person does one or more of the following:
 (a) makes a financial investment (see section 763B);
 (b) manages financial risk (see section 763C);
 (c) makes non‑cash payments (see section 763D).
This has effect subject to section 763E.

 (2) For the purposes of this Chapter, a particular facility that is of a kind through which people commonly make financial investments, manage financial risks or make non‑cash payments is a financial product even if that facility is acquired by a particular person for some other purpose.

 (3) A facility does not cease to be a financial product merely because:
 (a) the facility has been acquired by a person other than the person to whom it was originally issued; and
 (b) that person, in acquiring the product, was not making a financial investment or managing a financial risk.