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 958 CLAIM BY TRANSFEREE OR SUB-TRANSFEREE

958(1) [Claim by transferee or sub-transferee]

If, as a result of the unauthorised execution, a person (in this section called the ``claimant''), being:

(a) in any case:

(i) if subsection 956(1) applies - the person stated in the document as the transferee of the transferred securities; or

(ii) if subsection 956(2) applies - the person in whose favour the proper SCH transfer was effected, or purported to be effected; or

(b) if that person has disposed of any of the transferred securities - a successor in title of that person to any of the transferred securities;

suffers loss in respect of any of the transferred securities, the claimant may make a claim in respect of that loss.

958(2) [Person not entitled to claim]

A person is not entitled to make a claim under this section if the person:

(a) had actual knowledge that the transferor did not in fact authorise the unauthorised execution; or

(b) is an excluded person in relation to the dealer.