Section 762A — Corporations Act 2001: Overview of approach to defining what a financial product is

General definition (1) Subdivision B sets out a general definition of financial product. Subject to subsections (2) and (3), a facility is a financial product if it falls within that definition. Specific inclusions (2) Subdivision C identifies, or provides for the identification of, kinds of facilities that, subject to subsection (3), are financial products (whether or not they are within the general definition). Overriding exclusions (3) Subdivision D identifies, or provides for the identification of, kinds of facilities that are not financial products. These facilities are not financial products: (a) even if they are within the general definition; and (b) even if they are within a class of facilities identified as mentioned in subsection (2).