Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS ACT 2001 - SECT 92

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 Chapter 7), 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 (d) of the definition of security in section 761A).

             (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 Chapter 7), 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 Chapter 7), 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):

"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) a security covered by paragraph (a), (b), (c), (d) or (e).

It does not cover:

                     (g)  a derivative (as defined in Chapter 7), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c), (d) or (e); or

                     (h)  a market traded option; or

                      (i)  when used outside Chapter 6C--an interest in a notified foreign passport fund.

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 .

             (4)  In Chapter 6D securities has the meaning given by section 700 and in Chapter 7 security has the meaning given by section 761A.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback