CORPORATIONS ACT 2001
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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