CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS  

PART 7.11 - TITLE AND TRANSFER  

Division 2 - Transfer of certain securities  

Subdivision B - Special provisions for shares  

SECTION 1072B   TRANSMISSION OF SHARES ON BANKRUPTCY (REPLACEABLE RULE - SEE SECTION 135)  

1072B(1)   [ Transmission]  

If a person entitled to shares because of the bankruptcy of a shareholder gives the directors the information they reasonably require to establish the person's entitlement to be registered as holder of the shares, the person may:


(a) by giving a written and signed notice to the company, elect to be registered as the holder of the shares; or


(b) by giving a completed transfer form to the company, transfer the shares to another person.

1072B(2)   [ Election]  

On receiving an election under paragraph (1)(a), the company must register the person as the holder of the shares.

1072B(3)   [ Transfer rules]  

A transfer under paragraph (1)(b) is subject to the same rules (for example, about entitlement to transfer and registration of transfers) as apply to transfers generally.

1072B(4)   [ Bankruptcy Act]  

This section has effect subject to the Bankruptcy Act 1966 .


 

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