Document ID: chunk:federal_register_of_legislation:C2025C00014:section:159gp:p2
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 159GP (pt 2/5)
Character Range: 1416085–1418680

of the annuity and the one or more deferred superannuation income streams is the same or substantially the same; and
 (iii) the terms on which the annuity and the one or more deferred superannuation income streams are payable are the same or substantially the same.
issue, in relation to a security other than a bill of exchange, means the creation of the liability to pay an amount or amounts under the security.
issue price, in relation to a security, means the consideration (if any) for the issue of the security.
issuer, in relation to a security (other than a bill of exchange) at a particular time, means the person who, if the amount or amounts payable under the security were due and payable at that time, would be liable to pay the amount or amounts.
partial redemption, in relation to a security, means the discharging of a part (other than the final part) of a liability to pay an amount or amounts under the security representing a return of the issue price of the security.
partial redemption payment, in relation to a security, means a payment that has the effect of partially redeeming the security.
qualifying security means any security:
 (a) that is issued after 16 December 1984;
 (ba) that is not part of an exempt series (see subsection (9A));
 (c) the term of which, ascertained as at the time of issue of the security will, or is reasonably likely to, exceed 1 year;
 (d) that has an eligible return; and
 (e) where the precise amount of the eligible return is able to be ascertained at the time of issue of the security—in relation to which the amount of the eligible return is greater than 1½% of the amount ascertained by multiplying the amount of the payment or the sum of the payments (excluding any periodic interest) liable to be made under the security by the number (including any fraction) of years in the term of the security;
but does not, except as provided by subsection (10), include an annuity.
redemption, in relation to a security, means the discharging of all liability to pay any amount or amounts under the security representing a return of the issue price of the security.
redemption payment, in relation to a security, means any payment that has the effect of redeeming the security.
security means:
 (a) stock, a bond, debenture, certificate of entitlement, bill of exchange, promissory note or other security;
 (b) a deposit with a bank or other financial institution;
 (c) a secured or unsecured loan; or
 (d) any other contract, whether or not in writing, under which a person is liable to pay an amount or amounts, whether or not the liability