CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 7 - SECURITIES
PART 7.13 - TITLE TO, AND TRANSFER OF, SECURITIES
Division 3 - Transfer of marketable securities and marketable rights
Subdivision B - Sufficient transfers (transfers other than SCH-regulated transfers)
History
Heading inserted by No 210 of 1992, s 165 (effective 23 June
1993).
SECTION 1103
TRANSFEREE'S EXECUTION OF TRANSFER OF MARKETABLE SECURITIES
1103(1)
[Application]
This section applies where marketable securities are transferred by means of a sufficient transfer under this Division.
1103(2)
[Deemed agreement re marketable securities]
The transferee shall be deemed to have agreed at the execution time to accept the securities subject to the terms and conditions on which the transferor held them at that time, being the terms and conditions applicable as between the issuing body in relation to, and the holder for the time being of, the securities.
1103(3)
[Deemed acts of transferee - transfer of shares]
If the securities are shares, the transferee shall be deemed to have agreed at the execution time to become a member of the issuing body and to be bound, on being registered as the holder of the shares, by the issuing body's constitution.