Commonwealth Repealed Acts

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This legislation has been repealed.

CORPORATIONS LAW
- SECT 954A

Interpretation—general definitions
(1)
In this Division:

borrower , in relation to a guaranteed securities loan, has the meaning given by section 954B.

claim means a claim under this Division against SEGC.

compliance period , in relation to an obligation under a guaranteed securities loan, means:

(a)
if the business rules of the lender as in force when the loan is made prescribe a period in relation to the obligation for the purposes of this paragraph—that period; or
(b)
otherwise—a period that is reasonable having regard to the obligation and all the circumstances relating to the loan.
excluded amount , in relation to a guaranteed securities loan, means an amount payable by the borrower by way of a fee or charge, or by way of interest or a penalty, in respect of the loan.

guaranteed securities loan has the meaning given by section 954B .

lender , in relation to a guaranteed securities loan, has the meaning given by section 954B.

security benefit means:

(a)
property (other than securities) or money transferred or paid to a person because the person is or was the holder of a security; or
(b)
a right that a person has because the person is or was the holder of a security, including, for example:
(i)
a right to be paid an amount or to be issued with additional securities; or
(ii)
a right that arises out of a reduction in share capital, a scheme of arrangement or compromise or a takeover bid.
(2)
A reference in the definition of security benefit in subsection (1) to a right is a reference to a right, whether existing or future, and whether contingent or not.


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