Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.5 - COMPENSATION REGIMES FOR FINANCIAL MARKETS  

Division 1 - Preliminary  

REGULATION 7.5.10   MEANING OF TRANSFER OF SECURITIES  

7.5.10(1)   [ ``transfer of securities'']  

A transfer of securities takes place between a person (the transferor ) and another person (the transferee ) only if:

(a) in the case of an ASTC-regulated transfer - the transferor does, or causes to be done, all things that the ASTC operating rules require to be done by or on behalf of the transferor to effect the transfer; or

(b) in any other case - the transferor delivers, or causes to be delivered, to the transferee documents ( transfer documents ) that are sufficient to enable the transferee:

(i) except in the case of Division 3 rights - to become registered as the holder of the securities; or

(ii) in the case of Division 3 rights - to obtain the issue to the transferee of the securities to which the Division 3 rights relate;

without the transferor doing anything more, or causing anything more to be done, by way of executing or supplying documents.

7.5.10(2)   [ Property and documents (other than securities or money)]  

If a person:

(a) causes property (other than securities or money) to be transferred to another person; or

(b) causes documents that are sufficient to enable another person to become the legal owner of property (other than securities or money) to be delivered to another person;

the first-mentioned person is taken to have transferred the property to the other person.

7.5.10(3)   [ Payment of money]  

If a person causes money to be paid to another person, the first-mentioned person is taken to have paid the money to the other person.