THE CORPORATIONS LAW

CHAPTER 2B - BASIC FEATURES OF A COMPANY

PART 2B.2 - ASSUMPTIONS PEOPLE DEALING WITH COMPANIES ARE ENTITLED TO MAKE

SECTION 128   ENTITLEMENT TO MAKE ASSUMPTIONS  

128(1)  (Entitlement)  

A person is entitled to make the assumptions in section 129 in relation to dealings with a company. The company is not entitled to assert in proceedings in relation to the dealings that any of the assumptions are incorrect.

128(2)  (Title to property)  

A person is entitled to make the assumptions in section 129 in relation to dealings with another person who has, or purports to have, directly or indirectly acquired title to property from a company. The company and the other person are not entitled to assert in proceedings in relation to the dealings that any of the assumptions are incorrect.

128(3)  (Fraud or forgery)  

The assumptions may be made even if an officer or agent of the company acts fraudulently, or forges a document, in connection with the dealings.

128(4)  (Knowledge or suspicion)  

A person is not entitled to make an assumption in section 129 if at the time of the dealings they knew or suspected that the assumption was incorrect.