THE CORPORATIONS LAW

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)

SECTION 1104   TRANSFEREE'S EXECUTION OF TRANSFER OF MARKETABLE RIGHTS  

1104(1)  [Application]  

This section has effect where marketable rights relating to marketable securities are transferred by means of a sufficient transfer under this Division.

1104(2)  [Deemed acts of transferee - general]  

The transferee shall be deemed:

(a)  to have applied at the execution time to the issuing body in relation to the securities for the allotment to him, her or it of the securities; and

(b)  to have agreed at the execution time to accept the securities subject to the terms and conditions on which the issuing body offers them for subscription.

1104(3)  [Transferee deemed bound]  

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.