CORPORATIONS ACT 2001 - SECT 1020AA Meaning of securities lending arrangement

CORPORATIONS ACT 2001 - SECT 1020AA

    A securities lending arrangement is an arrangement under which:

  (a)   one entity (the lender ) agrees that it will:

  (i)   deliver particular securities, managed investment products, foreign passport fund products or other financial products to another entity (the borrower ) or to an entity nominated by the borrower; and

  (ii)   vest title in those products in the entity to which they are delivered; and

  (b)   the borrower agrees that it will, after the lender does the things mentioned in paragraph   (a):

  (i)   deliver the products (or equivalent products) to the lender or to an entity nominated by the lender; and

  (ii)   vest title in those products (or those equivalent products) in the entity to which they are delivered.