Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A financial product is a facility through which, or through the acquisition of which, a person does one or more of the following:
(a) makes a financial investment;
(c) makes non - cash payments.
This has effect subject to section 763E.
(2) A particular facility that is of a kind through which people commonly make financial investments, manage financial risks or make non - cash payments is a financial product even if that facility is acquired by a particular person for some other purpose.
(3) A facility does not cease to be a financial product merely because:
(a) the facility has been acquired by a person other than the person to whom it was originally issued; and
(b) that person, in acquiring the product, was not making a financial investment or managing a financial risk.