Overview of approach to defining what a financial product is
General definition (1) Subdivision B sets out a general definition of financial product. Subject to subsections (2) and (3), a facility is a financial product if it falls within that definition. Specific inclusions (2) Subdivision C identifies, or provides for the identification of, kinds of facilities that, subject to subsection (3), are financial products (whether or not they are within the general definition). Overriding exclusions (3) Subdivision D identifies, or provides for the identification of, kinds of facilities that are not financial products. These facilities are not financial products: (a) even if they are within the general definition; and (b) even if they are within a class of facilities identified as mentioned in subsection (2).
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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