Corporations Regulations 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS

[ 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.]

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.

View history note