Companies – Australian financial services licence – Provision of financial services – Where issuer did not hold or have benefit of Australian financial services licence for product – Where Australian financial services licence required if product is "financial product" – Where "financial product" includes facility through which person makes financial investment – Where "financial product" includes derivative – Where product involved deposit and withdrawal of Australian dollar amount – Where issuer converted deposit into cryptocurrency – Where product involved fixed rate of return on deposit paid in cryptocurrency and possible further return from increase in value of cryptocurrency – Whether product "financial product" – Whether product facility through which person makes financial investment – Whether product derivative.
Words and phrases – "arrangement", "contract for the future provision of services", "contribution", "convert", "credit facility", "crypto‑asset", "cryptocurrency", "derivative", "derived from or varies by reference to", "exchange", "facility", "financial investment", "financial product", "financial services", "fixed rate of return", "general definition of a financial product", "generate a financial return, or other benefit, for the investor", "interest", "investor", "issuer", "lend", "money or money's worth", "nexus", "overriding exclusions", "return", "rights and title to", "specific inclusions", "use", "user".
Corporations Act 2001 (Cth), Ch 7, Pt 7.1 Div 3, ss 760A, 761A, 761B, 761D, 761E, 762A, 762B, 762C, 763A, 763B, 763E, 764A, 765A, 766A, 766C, 911A.
Corporations Regulations 2001 (Cth), Pt 7.1 Div 1, reg 7.1.06(1)(a)(iv).
Evidence Act 1995 (Cth), s 191.