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 C - SCH-regulated transfers

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SECTION 1109P   DETERMINATION OF WHO HOLDS QUOTED SECURITIES FOR THE PURPOSES OF CONFERRING SECURITY BENEFITS  

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1109P(1)  [Effect of SCH business rules]  

If the SCH business rules include provisions relating to the determination, for the purposes of conferring security benefits, of who holds or is taken to hold quoted securities at a particular time, those provisions have effect accordingly despite anything in:

(a)  this Law or the regulations; and

(b)  any other laws (written or unwritten) that apply to the conferral; and

(c)  any documents (for example, the body corporate's constitution or any relevant trust deed) that apply to the conferral.

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1109P(2)  [``conferring a security benefit'']  

For the purposes of this section, conferring a security benefit means:

(a)  paying or transferring money or property to a person because the person holds or held a security; or

(b)  issuing securities to a person because the person holds or held a security; or

(c)  conferring a right on a person because the person holds or held a security.

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