Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.11 - TITLE AND TRANSFER  

Division 3 - Transfer of Division 3 securities effected otherwise than through a prescribed CS facility  

REGULATION 7.11.16   TRANSFEREE'S EXECUTION OF TRANSFER OF DIVISION 3 RIGHTS  

7.11.16(1)   [ Deemed application and agreement]  

If Division 3 rights relating to Division 3 assets are transferred by means of a sufficient transfer, the transferee is taken:


(a) to have applied at the execution time to the issuer in relation to the Division 3 assets for the issue to the transferee of the Division 3 assets; and


(b) to have agreed at the execution time to accept the Division 3 assets subject to the terms and conditions on which the issuer offers them for subscription.

7.11.16(2)   [ Shares]  

If the Division 3 assets are shares, the transferee is also taken to have agreed, at the execution time:


(a) to become a member of the issuer; and


(b) to be bound, on being registered as the holder of the shares, by the issuer's constitution.


 

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