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

239   Section 9

Insert:

foreign qualification has the meaning given by section 910A.

funeral benefit has the meaning given by section 761A.

further market-related advice means advice to which subsection 946B(1) applies.

general advice has the meaning given by subsection 766B(4).

general insurance product means a financial product described in paragraph 764A(1)(d).

Note: See also insurance product and risk insurance product .

generally available in relation to information:

(a) for the purposes of sections 674, 674A, 675 and 675A (continuous disclosure) - has the meaning given by section 676; and

(b) for the purposes of Division 3 (insider trading prohibitions) of Part 7.10 - has the meaning given by section 1042C.

holder :

(a) in relation to a financial product - means the person to whom the financial product was issued, or if it has (since issue) been disposed of to another person who has not themselves disposed of it, that other person; and

(b) in relation to an RSA - has the same meaning as in the Retirement Savings Accounts Act 1997;

and hold has corresponding meanings.

information , in Division 3 (insider trading prohibitions) of Part 7.10, has a meaning affected by subsection 1042A(2).

information statement for a class of CGS depository interests has the meaning given by subsection 1020AH(1).

inside information has the meaning given by subsection 1042A(1).

insurance claims manager has the meaning given by section 761DA.

insurance product means a financial product described in paragraph 764A(1)(d), (e) or (f).

Note: See also general insurance product , investment life insurance product , life risk insurance product and risk insurance product .

insure :

(a) in relation to a contract of life insurance - insured , for the purposes of Division 4 (special provisions relating to insurance) of Part 7.8, has the meaning given by section 985A; and

(b) in relation to a superannuation complaint - insurer has the meaning given by section 761A.

investment life insurance product means a financial product described in paragraph 764A(1)(f).

Note: See also insurance product .

issue situation has the meaning given by paragraph 1012B(2)(a).

issue Statement has the meaning given by subsection 1013A(1).

kind , in relation to financial products or financial services, has a meaning affected by regulations made for the purposes of section 761CA.

licensed CS facility means a clearing and settlement facility the operation of which is authorised by an Australian CS facility licence.

licensed derivative trade repository has the meaning given by section 761A.

licensed market means a financial market the operation of which is authorised by an Australian market licence.

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

life policy fund has the meaning given by section 761A.

life risk insurance product means a financial product described in paragraph 764A(1)(e).

Note: See also insurance product and risk insurance product .

limit of a margin lending facility has the meaning given by subsection 761EA(11).

limited-service time-sharing adviser has the meaning given by section 910A.