Commentary on Sections Structure of Chapters Overview Section 565: Interpretation of section 564
2219.This section provides explanations necessary to understand the previous section. It is based on paragraph 4A of Schedule 5AA to ICTA.
2220.Subsection (3) defines “party” in relation to the future or option in terms of rights, entitlements, obligations and liabilities, ensuring that both “grantors” and “grantees” of both futures and options fall within the definition.