Document ID: chunk:federal_register_of_legislation:F2024L00434:body:0:p27
Version: federal_register_of_legislation:F2024L00434
Segment Type: other
Provision Reference: 
Character Range: 98791–103337

borrower to extend credit when the balance in an attached transaction account falls below zero; and
                                           * unarranged overdrafts.  These refer to the situation when a transaction account holder withdraws an amount greater than the balance of the account leaving a negative balance. The lender usually charges an overdrawn account fee as well as interest on the negative balance, and usually requires the account holder to restore the account's positive balance.

Derivatives                           Means a financial instrument that is a contract between two or more parties where the price is dependent on or derived from one or more underlying assets. The contract may not involve any exchange of principal.

                                      It includes:

                                           * all exchange traded and over-the-counter call and put options;
                                           * interest rate, bullion, commodity and equity options;
                                           * warrants and swap options, interest-rate swaps, cross currency interest rate swaps and currency swaps;
                                           * futures (e.g. bank bill, bond), forward rate agreements and forward foreign-exchange contracts; and
                                           * employee stock options.

Development and other on-going costs  Means labour and overhead costs for software development, hardware installation costs and associated overheads that are carried out internally.

Dividends declared                    Report dividends declared in accordance with Australian Accounting Standards.

Dividends income                      Represents all profits incurred by corporations whether or not the distributions are called dividends.

                                      It excludes: issues of bonus shares in lieu of dividends (i.e. exclude dividend reinvestment plans).

Dwelling                              Means a self-contained room or suite of rooms, including cooking and bathing facilities, intended for long-term residential use. A dwelling is private (not generally accessible by the public) and is contained within a building that is an immobile structure. A dwelling may comprise part of a building or the whole of a building.

                                      Regardless of whether they are self-contained or not, rooms within buildings offering institutional care (e.g. hospitals) or where the primary purpose is to provide temporary accommodation (e.g. hotels, motels and hostels) are not defined as dwellings.

E

Electronic equipment and machinery          It includes:

                                                 * electrical generators and motors;
                                                 * electrical transformers;
                                                 * static converters and inductors;
                                                 * electricity distribution or control apparatus;
                                                 * lighting equipment;
                                                 * electrical ignition or starting equipment; and
                                                 * electrical signalling equipment.

Employees                                   Refers to persons working for the ADI or RFC.

                                            It includes:

                                                 * persons paid a retainer, wage or salary;
                                                 * working proprietors and partners;
                                                 * full-time and part-time employees;
                                                 * permanent, temporary and casual employees;
                                                 * managerial and executive employees;
                                                 * employees absent on paid or prepaid leave; and
                                                 * employees on workers' compensation who continue to be paid through the payroll.

                                            It excludes:

                                                 * persons paid by commission only (i.e. a retainer/wage/salary is not paid);
                                                 * contractors paid on invoice;
                                                 * non-salaried directors;
                                                 * self-employed persons such as consultants or contractors