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).