Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This regulation applies if the transfer document for a proper ASTC transfer of a Division 4 financial product includes a participant's identification code as the identification code of the participant effecting the transfer.
(2) If the participant is the transferor, the participant is taken to have warranted that:
(a) the transfer was effected by the participant; and
(b) the transferor was legally entitled or authorised to transfer the Division 4 financial product.
(3) Subregulation (4) applies if:
(a) the participant is not the transferor; and
(b) the transfer is pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:
(i) the transaction was entered into in the ordinary course of trading on a financial market;
(ii) the transaction is, under the operating rules of a market licensee, described, or to be described, as 'special' when it is reported to the market licensee.
(4) The participant is taken to have warranted that:
(a) the transferor was legally entitled or authorised to transfer the Division 4 financial product; and
(b) the transfer was effected by the participant; and
(c) the participant was authorised by the transferor to effect the transfer.
(5) Subregulation (6) applies if:
(a) the participant is not the transferor; and
(b) the transfer is not pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:
(i) the transaction was entered into in the ordinary course of trading on a financial market;
(ii) the transaction is, under the operating rules of a market licensee, described, or to be described, as 'special' when it is reported to the market licensee.
(6) The participant is taken to have warranted that:
(a) the transfer was effected by the participant; and
(b) the participant was authorised by the transferor to effect the transfer.