1 Corporations Act, s766A(1)(a)-(c). Other activities that require an AFSL include providing a custodial or depository service, eg holding a financial product on trust for a client or the client's nominee.

 

2 Corporations Act, s911A(2)(i).

 

3 Corporations Act, ss761E(5), 766C(1), (3).

 

4 Corporations Act, new s764A(1)(kaa) (which comes into effect on 1 July 2012; 

Corporations Regulations, reg.7.1.07I.

 

5 The Guide, pars 69-72.

 

6 Corporations Act, s761D(1) and Corporations Regulations, reg.7.1.04. There are some exceptions in the definition. For example, a contract to buy 'tangible property' where the contract cannot be cash-settled will generally not be caught.

 

7 International Litigation Partners Pte Ltd v Chameleon Mining NL [2011] NSWCA 50. This case is presently on appeal to the High Court.

 

8 Regulated emissions units and other market-traded emission or environmental units are not tangible property cf Corporations Act, s761D(3(a) and Corporations 

Regulations, reg.7.1.04(4).

 

9 Corporations Regulations, reg 7.6.02AGA

 

10 Corporations Regulations, reg.7.1.35C.

 

11 See Corporations Act, s50AAA.

 

12 Corporations Regulations, reg.7.6.01(1)(ma).

 

13 Cf Corporations Regulations, reg.7.6.01(1)(m)(iv).

 

14 Cf Corporations Regulations, reg.7.6.01(1)(m)(iii).

 

15 Cf the Guide, par.123.

 

16 Corporations Act, s766B.

 

17 Corporations Act, s766D.

 

18 Corporations Regulations, reg.7.1.08A.

 

19 Corporations Act, s9.

 

20 Another example is where the pooled money is used to trade in regulated emissions units, with the proceeds (in the form of money or units) being returned to the investors; see also the Guide, pars 100-105.

 

21 Corporations Act, ss 761D(3)(c), 7764A(1)(b), (ba); Corporations Regulations, reg. 7.1.04(7).

 

22 Corporations Regulations, reg.7.9.09A-7.9.09C, Part 19 of Schedule 10A.