Section 1020AA — Corporations Act 2001: Meaning of securities lending arrangement

A securities lending arrangement is an arrangement under which: (a) one entity (the lender) agrees that it will: (i) deliver particular securities, managed investment products, foreign passport fund products or other financial products to another entity (the borrower) or to an entity nominated by the borrower; and (ii) vest title in those products in the entity to which they are delivered; and (b) the borrower agrees that it will, after the lender does the things mentioned in paragraph (a): (i) deliver the products (or equivalent products) to the lender or to an entity nominated by the lender; and (ii) vest title in those products (or those equivalent products) in the entity to which they are delivered.