92Meaning of securities

#### 92 Meaning of securities (1) Subject to this section, securities means: (a) debentures, stocks or bonds issued or proposed to be issued by a government; or (b) shares in, or debentures of, a body; or (c) interests in a managed investment scheme; or (d) units of such shares; but does not include: (f) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or (g) an excluded security. > Note: A derivative does not include an option to acquire a security by way of issue (see the combined effect of paragraph 761D(3)(c), paragraph 764A(1)(a) and paragraph (5)(d) of this section). (2) The expression securities, when used in relation to a body, means: (a) shares in the body; or (b) debentures of the body; or (c) interests in a managed investment scheme made available by the body; or (d) units of such shares; but does not include: (e) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or (f) an excluded security. > Note: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)). (2A) In Part 1.2A, securities means: (a) shares in a body; or (b) debentures of a body; or (c) interests in a registered scheme or a notified foreign passport fund; or (d) legal or equitable rights or interests in: (i) shares; or (ii) debentures; or (iii) interests in a registered scheme or a notified foreign passport fund; or (e) options to acquire (whether by way of issue or transfer) a security covered by paragraph (a), (b), (c) or (d). It does not cover: (f) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or (g) a market traded option. > Note 1: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)). > Note 2: Section 9 defines body. (3) In Chapters 6 to 6CA (inclusive) and Part 8B.7: > securities means: (a) shares in a body; or (b) debentures of a body; or (c) interests in a registered scheme; or (d) when used in Chapter 6C—an interest in a listed notified foreign passport fund; or (e) legal or equitable rights or interests in: (i) shares; or (ii) debentures; or (iii) interests in a registered scheme or interests in a fund mentioned in paragraph (d); or (f) options to acquire (whether by way of issue or transfer) a security covered by paragraph (a), (b), (c), (d) or (e). It does not cover: (g) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c), (d) or (e); or (h) a market traded option; or (i) when used outside Chapter 6C—an interest in a notified foreign passport fund. > Note 1: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)). > Note 2: Section 9 defines body. (4) In Chapter 6D, securities has the meaning given by section 700. > Note: However, in Chapter 6D, securities does not include securities in a CCIV: see section 1240G. (5) In Chapter 7 (except Part 7.11), security means: (a) a share in a body; or (b) a debenture of a body; or (c) a legal or equitable right or interest in a security covered by paragraph (a) or (b); or (d) an option to acquire, by way of issue, a security covered by paragraph (a), (b) or (c); or (e) a right (whether existing or future and whether contingent or not) to acquire, by way of issue, the following under a rights issue: (i) a security covered by paragraph (a), (b), (c) or (d); (ii) a managed investment product; (iii) a foreign passport fund product; (iv) an interest or right covered by paragraph 764A(ba); or (f) a CGS depository interest; or (g) a simple corporate bonds depository interest; but does not include an excluded security or a foreign passport fund product. (6) In Part 7.11, security means: (a) a security as defined in subsection (5); or (b) a managed investment product; or (c) a foreign passport fund product. (7) In Chapter 8, securities means: (a) a share in a body; or (b) a debenture of a body; or (c) an interest in a managed investment scheme; or (d) a legal or equitable right or interest in a security or interest covered by paragraph (a), (b) or (c); or (e) an option to acquire, by way of issue, an interest or right covered by paragraph (a), (b), (c) or (d).