Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.11 - TITLE AND TRANSFER  

Division 3 - Transfer of Division 3 securities effected otherwise than through a prescribed CS facility  

REGULATION 7.11.19   INDEMNITIES BY MARKET LICENSEE AND BROKER IF TRANSFER DOCUMENT PURPORTS TO BEAR THEIR STAMPS  

7.11.19(1)   [ Application]  

This regulation applies if:

(a) a transfer document (the first document ) relating to Division 3 assets or Division 3 rights:

(i) has been duly completed in accordance with Part 1 of Form 1 or Form 5; and

(ii) bears a stamp that purports to be the stamp of the transferor's broker; and

(b) another transfer document:

(i) relates to any or all of the Division 3 assets or Division 3 rights; and

(ii) has been duly completed in accordance with Part 1 of Form 3 or Form 7; and

(iii) bears a stamp that purports to be the stamp of a market licensee.

7.11.19(2)   [ Market licensee]  

The market licensee is liable to indemnify:

(a) the issuer in relation to the Division 3 assets or Division 3 rights; and

(b) the transferor in relation to the other document; and

(c) the transferee in relation to the other document; and

(d) the broker of the transferee in relation to the other document;

against any loss or damage arising if:

(e) the stamp mentioned in subparagraph (1)(a)(ii) is not the stamp of the transferor's broker; or

(f) apart from paragraph 7.11.17(4) (a), the designated broker was not authorised to execute the first document on behalf of the transferor in relation to the first document.

7.11.19(3)   [ Associate of transferor's broker]  

Each associate (if any) of the transferor's broker is liable to indemnify the market licensee against any loss or damage arising as mentioned in subregulation (2).

7.11.19(4)   [ Transferor's broker who is not broker's agent]  

If the transferor's broker is not a broker's agent, the transferor's broker is liable to indemnify the market licensee against any loss or damage arising as mentioned in subregulation (2).

7.11.19(5)   [ Operation]  

Nothing in this regulation limits the operation of anything in regulation 7.11.17 or 7.11.18 or of anything else in this regulation.