THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.13 - TITLE TO, AND TRANSFER OF, SECURITIES

Division 3 - Transfer of marketable securities and marketable rights

Subdivision C - SCH-regulated transfers

SECTION 1109M   TRUSTEES AND LEGAL REPRESENTATIVES MAY BE SCH PARTICIPANTS ETC  

1109M(1)  [Trustee or legal representative]  

A trustee, or a legal representative of a dead person, who, as trustee or legal representative, holds a quoted security or a quoted right may:

(a)  subject to the requirements of the SCH business rules, be an SCH participant; and

(b)  have the security or right converted into, and hold it in, a form in which it may be transferred in accordance with the SCH business rules.

1109M(2)  [Limited effect of sec 1109M(1)]  

Nothing in subsection (1) authorises the trustee or legal representative to do a thing that the trustee or legal representative is expressly prohibited from doing by any law or by the terms and conditions on which he, she or it holds office.