THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.13 - TITLE TO, AND TRANSFER OF, SECURITIES

Division 3 - Transfer of marketable securities and marketable rights

Subdivision B - Sufficient transfers (transfers other than SCH-regulated transfers)

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SECTION 1103   TRANSFEREE'S EXECUTION OF TRANSFER OF MARKETABLE SECURITIES  

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1103(1)  [Application]  

This section applies where marketable securities are transferred by means of a sufficient transfer under this Division.

1103(2)  [Deemed agreement re marketable securities]  

The transferee shall be deemed to have agreed at the execution time to accept the securities subject to the terms and conditions on which the transferor held them at that time, being the terms and conditions applicable as between the issuing body in relation to, and the holder for the time being of, the securities.

1103(3)  [Deemed acts of transferee - transfer of shares]  

If the securities are shares, the transferee shall be deemed to have agreed at the execution time to become a member of the issuing body and to be bound, on being registered as the holder of the shares, by the issuing body's constitution.

 

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