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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 920

Interpretation

(1) In this Part, unless the contrary intention appears:

"borrower", in relation to a guaranteed securities loan, has the meaning given by section 954B.

"claim" means a claim under Division 6, 6A, 6B, 6C, 7, 7A or 8.

"clearing nominee", in relation to a settlement authority, means a subsidiary of the settlement authority operated for the purpose of facilitating the transfer of securities.

"eligible exchange" means:

(a)
the Exchange; or

(b)
a securities exchange that is neither the Exchange nor an Exchange subsidiary.

"excluded person" has the meaning given by section 921.

"Fund provisions" means the provisions of this Part.

"guaranteed securities loan" has the meaning given by section 954B.

"minimum amount" means:

(a)
if a determination is in force under section 936—the amount specified in the determination as the minimum amount of the Fund for the purposes of the Fund provisions; or

(b)
in any other case—$15,000,000.

"obligations", in relation to a member or member organisation of a participating exchange, in relation to a person, includes obligations arising under a law, under the participating exchange's business rules, under the SCH business rules or under an agreement between:

(a)
in any case—the member or member organisation and the person; or

(b)
if the member is a partner in a member organisation of the participating exchange—the last-mentioned member organisation and the person.

"orderly market" means an orderly market on a stock market of a participating exchange or of an Exchange subsidiary.

"participating exchange" means an eligible exchange that is a member of SEGC.

"property" includes money, securities and scrip.

"relative", in relation to a person, means a parent or remoter lineal ancestor, son, daughter or remoter issue, or brother or sister, of the person.

"relevant Act" means the Australian Stock Exchange and National Guarantee Fund Act 1987 .

"relevant commencement" means 1 April 1987.

"replacement agreement", in relation to an agreement that has been novated, has the meaning given by section 924A.

"reportable transaction" means a sale or purchase, by a member organisation (in this definition called the first dealer ) of a participating exchange, of securities, where the securities are quoted on a stock market of a participating exchange or of an Exchange subsidiary when the agreement for the sale or purchase is made and:

(a)
in any case—the participating exchange's business rules, as in force when the agreement for the sale or purchase is made, require the first dealer to report the sale or purchase to the participating exchange; or

(b)
if the sale or purchase is to or from, as the case may be, a member organisation (in this definition called the second dealer ) of a participating exchange—the last-mentioned participating exchange's business rules, as in force when the agreement for the sale or purchase is made, require the second dealer to report to the last-mentioned participating exchange the purchase or sale of the securities by the second dealer from or to, as the case may be, the first dealer.

"securities":

(a)
except in Division 7—includes marketable securities, or marketable rights, within the meaning of Division 3 of Part 7.13; and

(b)
in Division 7—has the meaning given by subsection 955(1).

"settlement authority" means a participating exchange or the securities clearing house.

"settlement documents", in relation to a transaction (other than a guaranteed securities loan), means documents the supply of which in accordance with the agreement for the transaction:

(a)
if the agreement has not been discharged—is sufficient; or

(b)
if the agreement has been discharged, whether by performance or otherwise—would, if the agreement had not been discharged, be sufficient;

to discharge the obligations of the seller under the agreement, in so far as those obligations relate to the supply of documents in connection with the transaction.

"TDS nominee", in relation to the transfer delivery service provisions of a settlement authority, means the clearing nominee referred to in the definition of transfer delivery service provisions .

"transaction", except in Division 6B, means a sale or purchase of securities or a guaranteed securities loan.

"transfer", except in Division 7, has a meaning affected by section 924.

"transfer delivery service provisions", in relation to a settlement authority, means provisions of the business rules of the settlement authority under which a person or partnership may elect to bring about a transfer of securities of a particular kind and number to another person or partnership by:

(a)
the first-mentioned person or partnership transferring securities of that kind and number to a clearing nominee of the settlement authority; and

(b)
the clearing nominee transferring securities of that kind and number to the other person or partnership.

"transfer documents", except in Division 7, has the meaning given by section 924.

(2) For the purposes of this Part, a sale and purchase of securities are taken to consist of 2 distinct transactions, namely, the sale of the securities by the seller to the buyer and the purchase of the securities by the buyer from the seller. (3) Except so far as the contrary intention appears, a reference in this Part to a sale, or to a purchase, includes a reference to a sale or purchase the agreement for which is made outside this jurisdiction, whether in Australia or not. (5) A reference in this Part to a business being carried on in this jurisdiction includes a reference to the business being carried on both in this jurisdiction and outside it, whether in Australia or not. (6) A person who, or a partner in a partnership that, contravenes a provision of this Part is not guilty of an offence.


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