Corporations Amendment (Digital Assets Framework) Act 2026 (38 of 2026)

Schedule 1   Digital asset platforms and tokenised custody platforms

Part 1   Core concepts

Division 2   Related amendments

Corporations Act 2001

30   Section 86

Repeal the section, substitute:

86 Meaning of possession

General (things other than digital tokens)

(1) A thing that is in a person's custody or under a person's control is in the person's possession .

Digital tokens

(2) However, a person possesses a digital token if:

(a) for an electronic record that is a digital token because of paragraph 761GB(1)(a) - the person is capable of factually controlling the electronic record as described in subsection 761GB(2); or

(b) otherwise - the conditions prescribed by regulations made for the purposes of this paragraph are met for the person and the digital token;

unless, under the regulations, prescribed circumstances exist such that the person does not possess the digital token.

(3) Despite paragraph (2)(a), a person does not (jointly) possess an electronic record that is a digital token if:

(a) the person needs the express cooperation of another person in order to be able to satisfy paragraph 761GB(2)(a), (b) or (c) for the electronic record; and

(b) that other person can unilaterally satisfy that paragraph for the electronic record.