Corporations Act. Australia
any other interest in, or right in respect of, property, whether in this jurisdiction or elsewhere, acquired in or under like circumstances.
involved, in relation to a contravention, has the meaning given by section 79.
issue includes:
(a) in relation to interests in a managed investment scheme — make available; and
(b) otherwise — circulate, distribute and disseminate.
Note: When issue is used in Chapter 7 in relation to a financial product it has a meaning affected by section 761E.
Judge means a judge of the Court.
judgment means a judgment, decree or order, whether final or interlocutory.
key management personnel for an entity has the same meaning as in the accounting standards.
large proprietary company has the meaning given by subsection 45A(3).
law of a State or Territory means a law of, or in force in, the State or Territory.
Note: This definition does not affect the meaning of law when used otherwise than in a phrase such as “law of a State or Territory”. Examples of such a use is in the phrase “any provision of any law” in section 100A and the phrase “law of the Commonwealth” in section 156.
lawyer means a duly qualified legal practitioner and, in relation to a person, means such a practitioner acting for the person.
lead auditor has the meaning given by section 324AF.
lease does not include a lease of goods that gives rise to a PPSA security interest in the goods.
Note: An interest that arises under a lease of goods that in substance secures the payment or performance of an obligation, or that arises under a PPS lease within the meaning of the Personal Property Securities Act 2009, may be a PPSA security interest (see sections 12 and 13 of that Act and the definition of PPSA security interest in section 51 of this Act).
leave of absence means long service leave, extended leave, recreation leave, annual leave, sick leave or any other form of leave of absence from employment.
limited company means:
(a) a company limited by shares; or
(b) a company limited by guarantee; or
(c) a company limited both by shares and guarantee;
but does not include a no liability company.
linked: the incurring of a debt and a contravention of section 596AB are linked if they are linked under subsection 596AB(4).
liquidator:
(a) has a meaning affected by paragraph 530(b) (which deals with 2 or more persons appointed as liquidators); and
(b) in Chapter 7, includes a provisional liquidator.
listed: a company, managed investment scheme or other body is listed if it is included in the official list of a prescribed financial market operated in this jurisdiction.
listed corporation means a body corporate that is included in an official list of a prescribed financial market.
listed disclosing entity has the meaning given by subsection 111AL(1).
listing market, in relation to a listed disclosing entity, has the meaning given by subsection 111AE(1) or (1A).
listing rules of a financial market, when used in a provision outside Chapter 7, has the same meaning as it has in Chapter 7.
local agent, in relation to a foreign company, means a person who is a local agent of the foreign company by virtue of subsection 601CG(5).
lodge means lodge with ASIC in this jurisdiction.
lower court means a court of a State or Territory that is not a superior court.
machine‑copy, in relation to a document, means a copy made of the document by any machine in which, or process by which, an image of the contents of the document is reproduced.
managed investment product, when used in a provision outside Chapter 7, has the same meaning as it has in Chapter 7.
managed investment scheme means:
(a) a scheme that has the following features:
(i) people contribute money or money’s worth as consideration to acquire rights (interests) to benefits produced by the scheme (whether the rights are actual, prospective or contingent and whether they are enforceable or not);
(ii) any of the contributions are to be pooled, or used in a common enterprise, to produce financial benefits, or benefits consisting of rights or interests in property, for the people (the members) who hold interests in the scheme (whether as contributors to the scheme or as people who have acquired interests from holders);
(iii) the members do not have day‑to‑day control over the operation of the scheme (whether or not they have the right to be consulted or to give directions); or
(b) a time‑sharing scheme;
but does not include the following:
(c) a partnership that has more than 20 members but does not need to be incorporated or formed under an Australian law because of regulations made for the purposes of subsection 115(2);
Note: This paragraph has an extended meaning in relation to Chapter 8 (see subsection 1200A(3)).
(d) a body corporate (other than a body corporate that operates as a time sharing scheme);
(e) a scheme in which all the members are bodies corporate that are related to each other and to the body corporate that promotes the scheme;
(f) a franchise;
(g) a statutory fund maintained under the Life Insurance Act 1995;
(h) a regulated superannuation fund, an approved deposit fund, a pooled superannuation trust, or a public sector superannuation scheme, within the meaning of the Superannuation Industry (Supervision) Act 1993;
(ha) an FHSA trust, within the meaning of the First Home Saver Accounts Act 2008;
(i) a scheme operated by an Australian ADI in the ordinary course of its banking business;
Note: This paragraph has an extended meaning in relation to Chapter 8 (see subsection 1200A(3)).
(j) the issue of debentures or convertible notes by a body corporate;
(k) a barter scheme under which each participant may obtain goods or services from another participant for consideration that is wholly or substantially in kind rather than in cash;
(l) a retirement village scheme operating within or outside Australia:
(i) under which the participants, or a majority of them, are provided, or are to be provided, with residential accommodation within a retirement village (whether or not the entitlement of a participant to be provided with accommodation derives from a proprietary interest held by the participant in the premises where the accommodation is, or is to be, provided); and
(ii) which is not a time‑sharing scheme;
(m) a scheme that is operated by a co‑operative company registered under Part VI of the Companies (Co‑operative) Act 1943 of Western Australia or under a previous law of Western Australia that corresponds to that Part;
(ma) a contribution plan;
(n)