CCH Note:
Part 13 of the
Corporations Act 1989, inserted
by sec 6 of No 110 of 1990, Sch 1 (effective 1 January 1991), begins as
follows:
PART 13 - THE CORPORATIONS LAW
THE CORPORATIONS LAW
82
The Corporations Law is as follows:...
CHAPTER 7 - SECURITIES
PART 7.1 - INTERPRETATION
SECTION 763
ODD LOT
763(1)
[Less than marketable parcel]
A parcel of securities constitutes an odd lot if the number of securities in that parcel is less than one marketable parcel of those securities.
763(2)
[More than marketable parcel]
When the number of securities in a parcel of securities is greater than one marketable parcel of those securities and, after excluding so many of the securities in that parcel as constitute a marketable parcel or marketable parcels of those securities, a number of securities remains, that remaining number of securities constitutes an odd lot.