Financial Services Reform Act 2001 (122 of 2001)
Schedule 1 Financial Services and Markets
Part 2 Consequential amendments
Corporations Act 2001
369 Section 611 (table item 6)
Repeal the item, substitute:
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6 |
Nature of acquirer An acquisition that results from the exercise by a person of a power, or appointment as a receiver, or receiver and manager, under a mortgage, charge or other security if: (a) the person’s ordinary business includes the provision of financial accommodation by any means; and (b) the person took or acquired the security in the ordinary course of their business of the provision of financial accommodation by any means and on ordinary commercial terms. |