Corporations Regulations 2001
View history note
Hide history note[ CCH Note: Pursuant to the Corporations Amendment Regulations 2001 (No 4) (SR 2001 No 319) effective 11 March 2002, Chapter 7 (Securities) comprising reg 7.1.01 - 7.15.01 and Chapter 8 (The futures industry) comprising reg 8.1.01 - 8.7.03 are replaced by a new Chapter 7 (Financial services and markets) comprising reg 7.1.01 - 7.12.01. As the subject matter of the new Chapter 7 relates to the new financial services reform regime, " inserted " has been used in the history notes for each provision, and all references to the former provisions have been removed.]
(a) a person authorises a participant to enter into a transaction involving the disposal of a Division 4 financial product (for example, a sale); and
(b) the person dies before the participant enters into the transaction; and
(c) the authority is still in force immediately before the person dies. 7.11.25(2) [ Authority continues]
The authority continues, despite the person's death, as if the person were still alive.
7.11.25(3) [ Transaction binding on legal representative]If the participant enters into the transaction while the authority so continues, the transaction is binding on the person's legal representative.
7.11.25(4) [ Revocation of authority]The authority can be revoked by the person's legal representative in any way that the person could have revoked it while the person was alive.
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