Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1085

1085. (1) A share or other interest of a member in a company:

   (a)  is personal property;

   (b)  is transferable or transmissible as provided by the articles; and

   (c)  subject to the articles, is capable of devolution by will or by
        operation of law.

(2) Subject to subsection (1):

   (a)  the laws applicable to ownership of and dealing with personal property
        apply to a share or other interest of a member in a company as they
        apply to other property; and

   (b)  equitable interests in respect of a share or other interest of a
        member in a company may be created, dealt with and enforced as in the
        case of other personal property.

(3) For the purposes of any law, a share or other interest of a member in a
company shall be taken to be situated:

   (a)  in a case to which paragraph (b) does not apply-in the State or
        Territory in which the register of members of the company is kept; or

   (b)  if the name of the member is, in respect of the share or interest
        concerned, entered in a branch register-in the State, Territory or
        country other than Australia in which that branch register is kept.