THE CORPORATIONS LAW

CHAPTER 7 - SECURITIES

PART 7.10 - THE NATIONAL GUARANTEE FUND

Division 7 - Unauthorised transfer

SECTION 956   SITUATIONS TO WHICH DIVISION APPLIES  

956(1)  [Not an SCH-regulated transfer]  

This Division applies if:

(a)  a dealer executes a document of transfer of securities on behalf of a person as transferor of the securities; and

(b)  the transfer is not an SCH-regulated transfer; and

(c)  apart from the effect of paragraph 1105(3)(a), the person did not authorise the dealer to execute the document.

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956(2)  [SCH transfer]  

This Division also applies if:

(a)  a dealer effects, or purports to effect, a proper SCH transfer of securities on behalf of a person; and

(b)  apart from the effect of section 1109B, the person did not authorise the dealer to effect the transfer.

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956(3)  [Terminology]  

In this Division:

(a)  the dealer's action referred to in whichever of paragraphs (1)(a) and (2)(a) is applicable is called the ``unauthorised execution'' ; and

(b)  the person referred to in whichever of those paragraphs is applicable is called the ``transferor'' ; and

(c)  the securities referred to in whichever of those paragraphs is applicable are called the ``transferred securities'' .

 View history note

 

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