Corporations Amendment (Short Selling) Act 2008 (146 of 2008)

Schedule 2   Amendments commencing on the 28th day after Royal Assent

Corporations Act 2001

2   Subsections 1020B(4), (5) and (6)

Repeal the subsections, substitute:

(4) Subsection (2) does not apply in relation to a sale of section 1020B products by a person who, before the time of sale, has entered into a contract to buy those products and who has a right to have those products vested in the person that is conditional only upon all or any of the following:

(a) payment of the consideration in respect of the purchase;

(b) the receipt by the person of a proper instrument of transfer in respect of the products;

(c) the receipt by the person of the documents that are, or are documents of title to, the products.