Corporations Act 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .

PART 7.11 - TITLE AND TRANSFER  

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

SECTION 1073D   REGULATIONS MAY GOVERN TRANSFER OF CERTAIN SECURITIES  

1073D(1)   [ Transfers not effected through prescribed CS facility]  

The regulations may make provision in relation to transfers of securities that are not effected through a prescribed CS facility.

1073D(2)   Regulations may make provision in relation to the transfer of securities.  

The regulations may specify:

(a) the way in which a security may be transferred, including:

(i) the forms (if any) to be used; and

(ii) what amounts to a proper or sufficient transfer of a security; and

(b) the legal effect of a proper or sufficient transfer of a security; and

(c) the rights, liabilities and obligations of a person in relation to the transfer of a security, including the rights, liabilities and obligations of:

(i) the transferor and transferee; and

(ii) any other person involved in the transfer; and

(d) the circumstances in which a person will be taken to be involved in the transfer of a security for the purposes of the regulations; and

(e) the circumstances in which a person is required not to register, or give effect to, a transfer.

1073D(3)   Sufficient transfer.  

Without limiting paragraph (2)(a), the regulations may:

(a) specify the requirements for a document to be a sufficient transfer of a security; and

(b) provide that a document meeting specified requirements may be used:

(i) as a proper instrument of transfer for the purposes of section 1071B ; and

(ii) as an instrument of transfer for the purposes of any other law or instrument governing or relating to the security.

1073D(4)   Rights and liabilities in relation to transfer.  

Without limiting paragraph (2)(c), the regulations may provide that a person:

(a) is taken to have:

(i) agreed to do, to accept or to be bound by a particular thing; or

(ii) done a particular thing; or

(iii) given particular warranties; or

(iv) done particular things on behalf of another person; or

(b) is taken to be authorised to do particular things on behalf of another person; or

(c) is taken to be bound by a particular act; or

(d) is liable to indemnify another person against particular loss or damage; or

(e) is entitled to assume a particular matter without inquiry.

1073D(5)   Person involved in transfer.  

Without limiting paragraph (2)(d), the regulations may provide for any of the following to be taken to be involved in a transfer of securities:

(a) a person who carries on a financial services business and who arranges for the transfer; and

(b) a person who operates a financial market on which the securities are sold; and

(c) a person who operates a licensed CS facility through which the securities are transferred; and

(d) a company with which the transfer is lodged for registration; and

(e) an associate of a person who is involved in the transfer.

The regulations may specify the circumstances in which a person will be taken to be an associate of another person for the purposes of the regulations.

1073D(6)   Offences.  

Without limiting subsection (2), the regulations may provide for offences in relation to:

(a) the use, or purported use, of a stamp of a person who:

(i) carries on a financial services business; or

(ii) operates a financial market; or

(iii) operates a clearing and settlement facility; or

(b) the execution of a document, or the transmission of an electronic message or other electronic communication, that may be used as a sufficient transfer under this Division; or

(c) the lodgment of a transfer document or title document for a security with the issuer of the security; or

(d) the use of identifying codes in relation to transfers of securities.

1073D(7)   Jurisdiction.  

The regulations may apply to conduct engaged in in this jurisdiction or elsewhere.