Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 72

72. (1) A futures contract is:

   (a)  a Chapter 8 agreement that is, or has at any time been, an eligible
        commodity agreement or adjustment agreement;

   (b)  a futures option; or

   (c)  an eligible exchange-traded option; other than:

   (d)  a Chapter 8 agreement:

        (i)    that is:

                (A)  a currency swap;

                (B)  an interest rate swap;

                (C)  a forward exchange rate contract; or

                (D)  a forward interest rate contract; and

        (ii)   to which an Australian bank, or a merchant bank as defined by
               subsection (4), is a party; or

   (e)  a Chapter 8 agreement that, when entered into, is in a class of
        agreements prescribed for the purposes of this paragraph.

(2) Where a Chapter 8 agreement that was not a futures contract when it was
entered into becomes a futures contract at a later time:

   (a)  the parties to the Chapter 8 agreement shall be deemed to enter into a
        futures contract at the later time; and

   (b)  the Chapter 8 agreement shall be deemed to constitute the futures
        contract referred to in paragraph (a).

(3) Nothing in this Act limits the manner in which a class of futures
contracts may be determined and such a class may be determined according to
any criteria relevant to futures contracts.

(4) For the purposes of subparagraph (I) (d) (ii), a body corporate is a
merchant bank at a particular time if, and only if, it is at that time a
registered corporation in:

   (a)  the category for authorised money market dealers or, if there is at
        that time no such category, a prescribed category; or

   (b)  the category for money market corporations or, if there is at that
        time no such category, a prescribed category.

(5) An expression has the same meaning in subsection (4) as in the
Financial Corporations Act 1974.