Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.11 - TITLE AND TRANSFER  

Division 4 - Transfer of Division 4 financial products effected through prescribed CS facility  

REGULATION 7.11.29   WARRANTIES BY PARTICIPANT IF IDENTIFICATION CODE IS INCLUDED IN TRANSFER DOCUMENT  

7.11.29(1)   [ Application]  

This regulation applies if the transfer document for a proper ASTC transfer of a Division 4 financial product includes a participant's identification code as the identification code of the participant effecting the transfer.

7.11.29(2)   [ Participant is transferor]  

If the participant is the transferor, the participant is taken to have warranted that:

(a) the transfer was effected by the participant; and

(b) the transferor was legally entitled or authorised to transfer the Division 4 financial product.

7.11.29(3)   [ Application of subreg (4)]  

Subregulation (4) applies if:

(a) the participant is not the transferor; and

(b) the transfer is pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:

(i) the transaction was entered into in the ordinary course of trading on a financial market;

(ii) the transaction is, under the operating rules of a market licensee, described, or to be described, as ``special'' when it is reported to the market licensee.

7.11.29(4)   [ Participant not transferor - certain conditions satisfied]  

The participant is taken to have warranted that:

(a) the transferor was legally entitled or authorised to transfer the Division 4 financial product; and

(b) the transfer was effected by the participant; and

(c) the participant was authorised by the transferor to effect the transfer.

7.11.29(5)   [ Application of subreg (6)]  

Subregulation (6) applies if:

(a) the participant is not the transferor; and

(b) the transfer is not pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:

(i) the transaction was entered into in the ordinary course of trading on a financial market;

(ii) the transaction is, under the operating rules of a market licensee, described, or to be described, as ``special'' when it is reported to the market licensee.

7.11.29(6)   [ Participant not transferor - certain conditions not satisfied]  

The participant is taken to have warranted that:

(a) the transfer was effected by the participant; and

(b) the participant was authorised by the transferor to effect the transfer.