Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 92

92. (1) Subject to this section, "securities" means:

   (a)  debentures, stocks or bonds issued or proposed to be issued by a
        government or an authority of a government;

   (b)  shares in, debentures of, or prescribed interests made available by, a
        body corporate;

   (c)  units of shares in, or of prescribed interests made available by, a
        body corporate; or

   (d)  an option contract within the meaning of Chapter 7; but does not
        include a futures contract or an excluded security.
(2) Subject to subsection (3), "securities", where that expression is used in
relation to a body corporate, means:

   (a)  shares in the body;

   (b)  debentures of the body;

   (c)  prescribed interests made available by the body; or

   (d)  units of such shares or prescribed interests; but does not include a
        futures contract or an excluded security.

(3) In a provision of this Act:

   (a)  a reference to securities of a body corporate in a context that
        excludes a corporation includes a reference to securities issued by:

        (i)    a government other than:

                (A)  the Commonwealth;

                (B)  the Government of a Territory; or

                (C)  the Government of a foreign country;

        (ii)   an authority of a government other than an authority of a
               government excluded from subparagraph (i); or

        (iii)  an unincorporated body or other person not excluded from
               subparagraph (i) or (ii);

   (b)  a reference to securities of a corporation includes a reference to
        securities issued by the Commonwealth, an authority of the
        Commonwealth, the Government of a Territory or of a foreign country or
        an authority of such a Government; and

   (c)  a reference to securities of a body corporate in a context that
        includes a corporation includes a reference to securities issued by a
        government, authority of a government, unincorporated body or other
        person; and an express mention of a related body corporate in such a
        reference does not of itself show an intention to exclude the
        application of this section in so far as it is capable of applying in
        relation to the reference.