Corporations Act 2001
CHAPTER 9
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MISCELLANEOUS
PART 9.7
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UNCLAIMED PROPERTY
SECTION 1343
1343
DISPOSAL OF SECURITIES IF WHEREABOUTS OF HOLDER UNKNOWN
Where a person has been shown in an appropriate register of a company as the holder of securities of the company for a period of at least 6 years and the company has, for a period of at least 6 years:
(a) had reasonable grounds for believing that the person was not residing at the address shown in the register as the person's address; and
(b) on each occasion during that last-mentioned period when, whether or not in accordance with a provision of this Act, it sought to communicate with the person, being unable after the exercise of reasonable diligence to do so;
(c) the securities; and
(d) any rights in respect of the securities;
Where a person has been shown in an appropriate register of a company as the holder of securities of the company for a period of at least 6 years and the company has, for a period of at least 6 years:
(a) had reasonable grounds for believing that the person was not residing at the address shown in the register as the person's address; and
(b) on each occasion during that last-mentioned period when, whether or not in accordance with a provision of this Act, it sought to communicate with the person, being unable after the exercise of reasonable diligence to do so;
the company may, by executing a transfer for and on behalf of the person, transfer to ASIC:
(c) the securities; and
(d) any rights in respect of the securities;
to be dealt with under this Part.
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