sec.26Investment in securities under RITS

### sec.26 Investment in securities under RITS A chose in action arising under RITS that entitles its holder to a security of a particular description (the underlying security ) is, for this Act and the instrument creating a trust, taken to be the same in all respects as the underlying security. The holding or acquisition by a trustee of a chose in action mentioned in subsection (1) is taken to be an investment by the trustee in the underlying security. It does not matter that the right conferred by the chose in action is a right in relation to securities of a particular description and not in relation to particular securities. In this section— RITS means the Reserve Bank of Australia’s Information and Transfer System, as operating from time to time. s 26 sub 1999 No. 69 s 5 (sec.26-ssec.1) A chose in action arising under RITS that entitles its holder to a security of a particular description (the underlying security ) is, for this Act and the instrument creating a trust, taken to be the same in all respects as the underlying security. (sec.26-ssec.2) The holding or acquisition by a trustee of a chose in action mentioned in subsection (1) is taken to be an investment by the trustee in the underlying security. (sec.26-ssec.3) It does not matter that the right conferred by the chose in action is a right in relation to securities of a particular description and not in relation to particular securities. (sec.26-ssec.4) In this section— RITS means the Reserve Bank of Australia’s Information and Transfer System, as operating from time to time.