Meaning of securities
(1) Subject to this section, securities means: (a) debentures, stocks or bonds issued or proposed to be issued by a government; or (b) shares in, or debentures of, a body; or (c) interests in a managed investment scheme; or (d) units of such shares; but does not include: (f) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or (g) an excluded security. Note: A derivative does not include an option to acquire a security by way of issue (see the combined effect of paragraph 761D(3)(c), paragraph 764A(1)(a) and paragraph (5)(d) of this section). (2) The expression securities, when used in relation to a body, means: (a) shares in the body; or (b) debentures of the body; or (c) interests in a managed investment scheme made available by the body; or (d) units of such shares; but does not include: (e) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or (f) an excluded security. Note: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)). (2A) In Part 1.2A, securities means: (a) shares in a body; or (b) debentures of a body; or (c) interests in a registered scheme or a notified foreign passport fund; or (d) legal or equitable rights or interests in: (i) shares; or (ii) debentures; or (iii) interests in a registered scheme or a notified foreign passport fund; or (e) options to acquire (whether by way of issue or transfer) a security covered by paragraph (a), (b), (c) or (d). It does not cover: (f) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c) or (d); or (g) a market traded option. Note 1: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)). Note 2: Section 9 defines body. (3) In Chapters 6 to 6CA (inclusive) and Part 8B.7: securities means: (a) shares in a body; or (b) debentures of a body; or (c) interests in a registered scheme; or (d) when used in Chapter 6C—an interest in a listed notified foreign passport fund; or (e) legal or equitable rights or interests in: (i) shares; or (ii) debentures; or (iii) interests in a registered scheme or interests in a fund mentioned in paragraph (d); or (f) options to acquire (whether by way of issue or transfer) a security covered by paragraph (a), (b), (c), (d) or (e). It does not cover: (g) a derivative (as defined in section 761D), other than an option to acquire by way of transfer a security covered by paragraph (a), (b), (c), (d) or (e); or (h) a market traded option; or (i) when used outside Chapter 6C—an interest in a notified foreign passport fund. Note 1: A derivative does not include an option to acquire a security by way of issue (see the note to subsection (1)). Note 2: Section 9 defines body. (4) In Chapter 6D, securities has the meaning given by section 700. Note: However, in Chapter 6D, securities does not include securities in a CCIV: see section 1240G. (5) In Chapter 7 (except Part 7.11), security means: (a) a share in a body; or (b) a debenture of a body; or (c) a legal or equitable right or interest in a security covered by paragraph (a) or (b); or (d) an option to acquire, by way of issue, a security covered by paragraph (a), (b) or (c); or (e) a right (whether existing or future and whether contingent or not) to acquire, by way of issue, the following under a rights issue: (i) a security covered by paragraph (a), (b), (c) or (d); (ii) a managed investment product; (iii) a foreign passport fund product; (iv) an interest or right covered by paragraph 764A(ba); or (f) a CGS depository interest; or (g) a simple corporate bonds depository interest; but does not include an excluded security or a foreign passport fund product. (6) In Part 7.11, security means: (a) a security as defined in subsection (5); or (b) a managed investment product; or (c) a foreign passport fund product. (7) In Chapter 8, securities means: (a) a share in a body; or (b) a debenture of a body; or (c) an interest in a managed investment scheme; or (d) a legal or equitable right or interest in a security or interest covered by paragraph (a), (b) or (c); or (e) an option to acquire, by way of issue, an interest or right covered by paragraph (a), (b), (c) or (d).
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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