Ann: Becoming a substantial holder, page-5

I have a question. I just skimmed ASIC RG 196, re: reporting requirements for short positions, specifically RG196.149-150(see extract below) Does this mean that if I am holding 1million of shares that I purchased on market, but then through a securities lending agreement, short sell 500k shares, then my short position for reporting requirements is zero, or is it just 500k. Not sure what acting in the same capacity means. Thank you.

RG 196.149 A short position arises where the quantity of the product that a person has,
when acting in a particular capacity, is less than the quantity of the product
that the person has an obligation to deliver, when acting in the same
capacity: reg 7.9.99. For example, if a seller, acting in a particular capacity,
has an obligation to deliver 5,000 units in a particular section 1020B product
and, acting in the same capacity, has only 2,000 units in that section 1020B
product, the seller’s short position is 3,000 units.
Note: ASIC Corporations (Short Selling) Instrument 2018/745 modifies the definition
of ‘short position’ in reg 7.9.99 to clarify how a person should determine their short
position in a product in circumstances where the person, acting in more than one
capacity, has products and has obligations to deliver products. This modification was
formerly provided in Class Order [CO 10/1037] Variation of Class Order [CO 10/29]
which modified Class Order [CO 10/29] Short selling position reporting regime.
When does a person have a product for the purposes of determining a
short position?
RG 196.150 A person has the product if:
(a) the person is holding the product on the person’s own behalf
(reg 7.9.99(3)(a));