Commonwealth Consolidated Acts

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CORPORATIONS ACT 2001 - SECT 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).



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