CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.11 - TITLE AND TRANSFER  

Division 2 - Transfer of certain securities  

Subdivision A - General provisions  

SECTION 1071F   REMEDY FOR REFUSAL TO REGISTER TRANSFER OR TRANSMISSION  

1071F(1)   [ Application for order]  

If a relevant authority in relation to a company:


(a) refuses or fails to register; or


(b) refuses or fails to give its consent or approval to the registration of;

a transfer or transmission of securities of the company, the transferee or transmittee may apply to the Court for an order under this section.

1071F(2)   [ Orders]  

If the Court is satisfied on the application that the refusal or failure was without just cause, the Court may:


(a) order that the transfer or transmission be registered; or


(b) make such other order as it thinks just and reasonable, including:


(i) in the case of a transfer or transmission of shares - an order providing for the purchase of the shares by a specified member of the company or by the company; and

(ii) in the case of a purchase by the company - an order providing for the reduction accordingly of the capital of the company.

1071F(3)   [ ``relevant authority'']  

In this section:

relevant authority
, in relation to a company, means:


(a) a person who has, 2 or more persons who together have, or a body that has, authority to register a transfer or transmission of securities of the company; or


(b) a person, 2 or more persons, or a body, whose consent or approval is required before a transfer or transmission of securities of the company is registered.


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