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

269   Section 9

Insert:

sale :

(a) in relation to an annuity policy - has the meaning given by section 761A; and

(b) of a financial product, for the purposes of Part 7.8A (design and distribution requirements) and Part 7.9 (financial product disclosure) - has the meaning given by subsection 1010C(1).

Note: Section 1010C applies for the purposes of Part 7.8A: see subsection 994A(3).

sale situation has the meaning given by paragraph 1012C(2)(a).

sale Statement has the meaning given by subsection 1013A(2).

section 1020B products has the meaning given by subsection 1020B(1).

securities lending arrangement (except for the purposes of Chapter 8A) has the meaning given by section 1020AA.

SEGC (short for Securities Exchanges Guarantee Corporation) has the meaning given by section 880B.

self managed superannuation fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

sinking fund policy has the same meaning as in the Life Insurance Act 1995.

standard employer-sponsor has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

standard employer-sponsored fund has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

standard employer-sponsored member has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

standard margin lending facility has the meaning given by subsection 761EA(2).

Statement of Advice means a Statement of Advice required by section 946A to be given in accordance with Subdivisions C and D of Division 3 of Part 7.7.

superannuation complaint has the meaning given by subsections 1053(3) and (4).

superannuation entity has the same meaning as in the Superannuation Industry (Supervision) Act 1993.

superannuation product meansa superannuation interest within the meaning of the Superannuation Industry (Supervision) Act 1993.

superannuation provider means a person who is a superannuation provider within the meaning of:

(a) the Superannuation Contributions Tax (Assessment and Collection) Act 1997; or

(b) the Superannuation Contributions Tax (Members of Constitutionally Protected Superannuation Funds) Assessment and Collection Act 1997.

superannuation trustee service that a person provides has the meaning given by section 766H.

supervisor of a provisional relevant provider has the meaning given by subsection 921F(2).

Supplementary Financial Services Guide has the meaning given by section 943A.