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 D - Miscellaneous

SECTION 1110   OPERATION OF DIVISION  

1110(1)  [Overriding effect]  

This Division applies in relation to a transfer of marketable securities or marketable rights despite anything to the contrary in this Law (other than this Division) or in another law or instrument relating to the transfer of the securities or rights.

1110(2)  [Terms and conditions of sale]  

Except as provided in this Division, this Division does not affect the terms and conditions on which marketable securities or marketable rights are sold.

1110(3)  [Right to refuse registration]  

Nothing in this Division (other than section 1109L) affects any right of an eligible body to refuse:

(a)  to acknowledge or register a person as the holder of marketable securities; or

(b)  to allot or issue marketable securities to a person;

on a ground other than an objection to the form of document that is lodged with or sent to the eligible body and purports to transfer to the person the securities, or marketable rights relating to the securities.

1110(4)  [Effect of registration]  

The registration of a transfer, or the allotment or issue, of a marketable security by means of a Division 3 transfer does not breach any law, constitution, trust deed or other instrument relating to marketable securities.

1110(5)  [Other forms of transfer]  

Nothing in this Division (except section 1109K) prevents or affects the use of:

(a)  any other form of transfer of marketable securities or marketable rights; or

(b)  any other mode of executing a document transferring marketable securities or marketable rights;

that is otherwise permitted by law.

1110(6)  [Transfer by or to trustee]  

A transfer of marketable securities or marketable rights by or to a trustee or legal representative may be effected by means of a Division 3 transfer despite any law or the provisions of the instrument (if any) creating, or having effect in relation to, the trust or will under which the trustee or legal representative is appointed.