Document ID: chunk:federal_register_of_legislation:C2025C00185:section:92:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 92 (pt 1/2)
Character Range: 334680–337225

92  Meaning of securities
 (1) Subject to this section, securities means:
 (a) debentures, stocks or bonds issued or proposed to be issued by a government; or
 (b) shares in, or debentures of, a body; or
 (c) interests in a managed investment scheme; or
 (d) units of such shares;
but does not include:
 (f) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or
 (g) an excluded security.
Note: A derivative does not include an option to acquire a security by way of issue (see the combined effect of paragraph 761D(3)(c), paragraph 764A(1)(a) and paragraph (5)(d) of this section).
 (2) The expression securities, when used in relation to a body, means:
 (a) shares in the body; or
 (b) debentures of the body; or
 (c) interests in a managed investment scheme made available by the body; or
 (d) units of such shares;
but does not include:
 (e) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or
 (f) an excluded security.
Note: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)).
 (2A) In Part 1.2A, securities means:
 (a) shares in a body; or
 (b) debentures of a body; or
 (c) interests in a registered scheme or a notified foreign passport fund; or
 (d) legal or equitable rights or interests in:
 (i) shares; or
 (ii) debentures; or
 (iii) interests in a registered scheme or a notified foreign passport fund; or
 (e) options to acquire (whether by way of issue or transfer) a security covered by paragraph (a), (b), (c) or (d).
It does not cover:
 (f) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or
 (g) a market traded option.
Note 1: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)).
Note 2: Section 9 defines body.
 (3) In Chapters 6 to 6CA (inclusive) and Part 8B.7:
securities means:
 (a) shares in a body; or
 (b) debentures of a body; or
 (c) interests in a registered scheme; or
 (d) when used in Chapter 6C—an interest in a listed notified foreign passport fund; or
 (e) legal or equitable rights or interests in:
 (i) shares; or
 (ii) debentures; or
 (iii) interests in a registered scheme or interests in a fund mentioned in paragraph (d); or
 (f) options to acquire (whether by way of issue or transfer)