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CORPORATIONS ACT 2001 - SECT 762A Overview of approach to defining what a financial product is

CORPORATIONS ACT 2001 - SECT 762A

Overview of approach to defining what a financial product is

General definition

  (1)   Subdivision B sets out a general definition of financial product . Subject to subsections   (2) and (3), a facility is a financial product if it falls within that definition.

Specific inclusions

  (2)   Subdivision C identifies, or provides for the identification of, kinds of facilities that, subject to subsection   (3), are financial products (whether or not they are within the general definition).

Overriding exclusions

  (3)   Subdivision D identifies, or provides for the identification of, kinds of facilities that are not financial products. These facilities are not financial products:

  (a)   even if they are within the general definition; and

  (b)   even if they are within a class of facilities identified as mentioned in subsection   (2).

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