THE CORPORATIONS LAW

CCH Note: Part 13 of the Corporations Act 1989, inserted by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as follows:

PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW 82
The Corporations Law is as follows:...

SECTION 956 SITUATIONS TO WHICH DIVISION APPLIES

956(1) [Not an SCH-regulated transfer]

This Division applies if:

(a) a dealer executes a document of transfer of securities on behalf of a person as transferor of the securities; and

(b) the transfer is not an SCH-regulated transfer; and

(c) apart from the effect of paragraph 1105(3)(a), the person did not authorise the dealer to execute the document.

956(2) [SCH transfer]

This Division also applies if:

(a) a dealer effects, or purports to effect, a proper SCH transfer of securities on behalf of a person; and

(b) apart from the effect of section 1109B, the person did not authorise the dealer to effect the transfer.

956(3) [Terminology]

In this Division:

(a) the dealer's action referred to in whichever of paragraphs (1)(a) and (2)(a) is applicable is called the ``unauthorised execution'' ; and

(b) the person referred to in whichever of those paragraphs is applicable is called the ``transferor'' ; and

(c) the securities referred to in whichever of those paragraphs is applicable are called the ``transferred securities'' .