Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.11 - TITLE AND TRANSFER  

Division 5 - Offences  

REGULATION 7.11.40   STAMPING OF BROKER ' S STAMP ON SUFFICIENT TRANSFER  

7.11.40(1)    
A broker must not stamp with a broker ' s stamp a document (a transfer document ) that:

(a)    relates to Division 3 securities; and

(b)    may be used as a sufficient transfer under this Part;

unless the transfer document relates to a sale or purchase of the Division 3 securities, in the ordinary course of the broker ' s business, for a consideration of not less than their unencumbered market value at the time of the sale or purchase.

7.11.40(2)    
A person must not stamp a transfer document with a stamp that purports to be that of the transferor ' s broker unless:

(a)    the stamp is the stamp of the transferor ' s broker; and

(b)    apart from paragraph 7.11.17(4)(a) , the transferor ' s broker is authorised to execute the document on the transferor ' s behalf; and

(c)    the person is:

(i) the transferor ' s broker; or

(ii) authorised to stamp the document on the transferor ' s broker ' s behalf.

7.11.40(3)    
A market licensee must not stamp with a stamp of the market licensee a document that may be used as a sufficient transfer under this Part of Division 3 securities unless:

(a)    a duly completed Part 1, relating to the Division 3 securities, has been lodged with the issuer in relation to the Division 3 securities; or

(b)    the market licensee holds a duly completed Part 1 that:

(i) bears a certificate that purports to be that of the transferor ' s broker; and

(ii) states that a duly completed Part 1, relating to the Division 3 securities, has been lodged or will be lodged with the issuer in relation to the Division 3 securities.

7.11.40(4)    
A person must not execute a document that:

(a)    may be used as a sufficient transfer under regulation 7.11.12 or 7.11.13 ; and

(b)    relates to a transfer of Division 3 securities:

(i) made by way of a sale, gift or exchange of the Division 3 securities; or

(ii) to or in favour of a person who is not the beneficial owner of the Division 3 securities.

7.11.40(5)    

A person who is not a licensed trustee company, a Public Trustee of a State or Territory, or a company listed in Schedule 9 must not knowingly cause, authorise or permit to be executed a document that:

(a)    relates to Division 3 securities; and

(b)    may be used as a sufficient transfer under regulation 7.11.12 or 7.11.13 ;

but is not a sufficient transfer under that regulation.

7.11.40(6)    
A person must not knowingly lodge or cause to be lodged with a company a document that has been:

(a)    stamped in contravention of subregulation (1) , (2) or (3) ; or

(b)    executed in contravention of subregulation (4) ;

for the purpose of securing the registration of the transfer of, or the issue of, Division 3 securities to the transferee named in the document.