Document ID: chunk:federal_register_of_legislation:C2005C00498:clause:1_762a
Version: federal_register_of_legislation:C2005C00498
Segment Type: clause
Provision Reference: sch 1 cl 762A
Character Range: 44770–45608

762A  Overview of approach to defining what a financial product is

General definition

 (1) Subdivision B sets out a general definition of financial product. Subject to subsections (2) and (3), a facility is a financial product if it falls within that definition.

Specific inclusions

 (2) Subdivision C identifies, or provides for the identification of, kinds of facilities that, subject to subsection (3), are financial products (whether or not they are within the general definition).

Overriding exclusions

 (3) Subdivision D identifies, or provides for the identification of, kinds of facilities that are not financial products. These facilities are not financial products:
 (a) even if they are within the general definition; and
 (b) even if they are within a class of facilities identified as mentioned in subsection (2).