Corporations Act 2001
Note: This Chapter applies to a CCIV in a modified form: see Division 4 of Part 8B.7 .
View history note
Hide history noteWhen a certificate issued under section 838A for a transfer of shares comes into force, the shares in the target body that are to be transferred, wherever those shares are located, become shares held by the receiving body without any transfer, conveyance or assignment.
838B(2)
Those shares become shares held by the receiving body free from any trust, liability or other encumbrance.
Certificate provisions for things to happen on transfer etc. are taken to have happened etc.
838B(3)
If the certificate includes provisions of a kind referred to in paragraph 838A(5)(a) , then: (a) if the provisions specify that particular things are to happen or are taken to be the case - those things are, by force of this subsection, taken to happen, or to be the case, in accordance with those provisions; and (b) if the provisions specify a mechanism for determining things that are to happen or are taken to be the case - things determined in accordance with the mechanism are, by force of this subsection, taken to happen, or to be the case, as determined in accordance with that mechanism.
Agreed provisions for things to happen on transfer etc. are taken to have happened etc.
838B(4)
If the Reserve Bank has approved a statement under subsection 837D(2) in relation to the transfer, then: (a) if the statement specifies that particular things are to happen or are taken to be the case - those things are, by force of this subsection, taken to happen, or to be the case, in accordance with the statement; and (b) if the statement specifies a mechanism for determining things that are to happen or are taken to be the case - things determined in accordance with that mechanism are, by force of this subsection, taken to happen, or to be the case, as determined in accordance with that mechanism.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
