Treasury Laws Amendment (2023 Law Improvement Package No. 1) Act 2023 (76 of 2023)

Schedule 2   ALRC Financial Services Interim Report: single glossary of defined terms

Part 1   Amendments

Division 9   Terms relating to financial services and markets

Corporations Act 2001

229   Section 9 (definition of financial product)

Repeal the definition, substitute:

financial product has the meaning given by Division 3 of Part 7.1 and:

(a) in Part 7.8A (design and distribution requirements) - has a meaning affected by subsection 994AA(1); and

(b) in Part 7.9A (product intervention orders) - has a meaning affected by section 1023B.

Note: In Part 7.10 (market misconduct etc.) bank accepted bills and negotiable certificates of deposit are treated as if they were financial products: see section 1040B.