Duties Act 2001

An asset-backed security is—

an entitlement or interest of a person in—

an entitlement of a financier for a financial asset or pool of financial assets; or

amounts payable to a financier under a financial asset or pool of financial assets whether or not on the same conditions applying under the asset and whether or not the person is entitled to a transfer of the asset or pool of assets; or

a debenture, promissory note, bill of exchange, stock, bond, note or other security creating, evidencing or acknowledging indebtedness issued or made by a corporation if the payments under the security are received by the corporation—

substantially from the receipts, whether of capital or income, from a financial asset or pool of financial assets; or

if another extent is prescribed under a regulation—to the extent prescribed, from the receipts, whether of capital or income, from a financial asset or pool of financial assets; or

a security by which an interest in, or mortgage or charge over, an entitlement, interest or security mentioned in paragraph (a) or (b) is created; or

a covered bond within the meaning of the Banking Act 1959 (Cwlth), section 26, if the cover pool for the covered bond under that section consists of either of the following—

a financial asset;

a pool of financial assets.

However, the term does not include—

a mortgage, other than a mortgage mentioned in subsection (1)(c); or

a transfer of a mortgage or financial asset.

It does not matter whether an asset-backed security is effected by an instrument or another way.