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AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION ACT 2001 - SECT 12BA

Interpretation

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

"acquire" , in relation to services, includes accept.

"acquisition" of services has the meaning given by section 12BD.

"authority" , in relation to a State or Territory (including an external Territory), means:

                     (a)  a body corporate established for a purpose of the State or the Territory by or under a law of the State or Territory; or

                     (b)  an incorporated company in which the State or the Territory, or a body corporate referred to in paragraph (a), has a controlling interest.

"authority of the Commonwealth" means:

                     (a)  a body corporate established for a purpose of the Commonwealth by or under a law of the Commonwealth or a law of a Territory; or

                     (b)  an incorporated company in which the Commonwealth, or a body corporate referred to in paragraph (a), has a controlling interest.

"business" includes a business not carried on for profit.

"conduct" has the meaning given by subsection (2).

"consumer" has the meaning given by section 12BC.

"contract" has the meaning given by section 12BE.

"covenant" means a covenant (including a promise not under seal) annexed to or running with an estate or interest in land (whether at law or in equity and whether or not for the benefit of other land) and proposed covenant has a corresponding meaning.

"engage in conduct" has the meaning given by subsection (2).

"Family Court Judge" means a Judge of the Family Court (including the Chief Judge, the Deputy Chief Judge, a Judge Administrator or a Senior Judge).

"financial corporation" :

                     (a)  means a financial corporation within the meaning of paragraph 51(xx) of the Constitution; and

                     (b)  includes a body corporate that carries on as its sole or principal business the business of:

                              (i)  banking (other than State banking not extending beyond the limits of the State concerned); or

                             (ii)  insurance (other than State insurance not extending beyond the limits of the State concerned).

"financial product" has the meaning given by section 12BAA.

"financial service" has the meaning given by section 12BAB.

"misleading" has the meaning given by section 12BB.

"price" includes a charge of any description.

"provision" , in relation to an understanding, means any matter forming part of the understanding.

"re-supply" of services has the meaning given by section 12BD.

"send" includes deliver, and sent and sender have corresponding meanings.

"services" includes any rights (including rights in relation to, and interests in, real or personal property), benefits, privileges or facilities that are, or are to be, provided, granted or conferred in trade or commerce but does not include:

                     (a)  the supply of goods within the meaning of the Trade Practices Act 1974 ; or

                     (b)  the performance of work under a contract of service.

"supply" :

                     (a)  includes provide, grant or confer when used as a verb in relation to services; and

                     (b)  has a corresponding meaning when used as a noun;

and supplied and supplier have corresponding meanings.

"supply" of services has the meaning given by section 12BD.

"the Court" or the Federal Court means the Federal Court of Australia.

"trade or commerce" means trade or commerce within Australia or between Australia and places outside Australia.

"trading corporation" means a trading corporation within the meaning of paragraph 51(xx) of the Constitution.

"unsolicited financial services" means financial services supplied to a person without any request made by the person or on the person's behalf.

             (2)  In this Division:

                     (a)  a reference to engaging in conduct is a reference to doing or refusing to do any act, including:

                              (i)  making, or giving effect to a provision of, a contract or arrangement; or

                             (ii)  arriving at, or giving effect to a provision of, an understanding; or

                            (iii)  requiring the giving of, or giving, a covenant; and

                     (b)  a reference to conduct, when that expression is used as a noun otherwise than as mentioned in paragraph (a), is a reference to doing or refusing to do any act, including:

                              (i)  making, or giving effect to a provision of, a contract or arrangement; or

                             (ii)  arriving at, or giving effect to a provision of, an understanding; or

                            (iii)  requiring the giving of, or giving, a covenant; and

                     (c)  a reference to refusing to do an act includes a reference to:

                              (i)  refraining (otherwise than inadvertently) from doing that act; or

                             (ii)  making it known that that act will not be done; and

                     (d)  a reference to a person offering to do an act, or to do an act on a particular condition, includes a reference to the person making it known that the person will accept applications, offers or proposals for the person to do that act or to do that act on that condition, as the case may be.



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