Glossary of Terms
Disclaimer: Terms in this glossary are provided for general information only and should not be taken as constituting professional advice from the website owner – the Australian Securities and Investments Commission (ASIC).
The words in brackets do not form part of the term. Where 'Business names' and/or 'SMSF auditors' appears in brackets alongside a term, this denotes the definition is only to be used in reference to the relevant register. These terms do not apply to any other ASIC services.
Viewing entries beginning with 'F'
- Foreign company
An incorporated or unincorporated body that is formed in an external territory or outside Australia and registered under the Corporations Act 2001.
- Foreign insurance agent
A person who was registered with ASIC to place business with an overseas insurer as agent for that insurer. This is a role that existed prior to the financial services reform in 2002 and no longer exists.
A business arrangement whereby the owner (franchisor) of an enterprise grants the rights to another person or entity (franchisee) to operate under the franchisor's trade name.
A franchisee is an entity that purchases the rights to use a franchisor's name and business model to do business.
The franchisor owns the overall rights and trademarks (if any) of the business and allows its franchisees to use these rights and trademarks to carry on business within terms of the franchise. The franchisor owns the overall rights and trademarks.
- Futures adviser
A person who was licensed by ASIC to provide advice on futures contracts. This is a role that existed prior to the financial services reform in 2002 and no longer exists.
- Futures broker
A person who was licensed by ASIC to deal in futures contracts. This role existed prior to the financial services reform in 2002 and no longer exists.
- Futures representative
An individual who was authorised by a futures licensee to carry on the business of a futures licensee. This is a role that existed prior to the financial services reform in 2002 and no longer exists.