Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1089

1089. (1) Subject to subsection (2), where a certificate or other document of
title to shares, debentures or prescribed interests is lost or destroyed, the
company shall, on application by the owner of the shares, debentures or
prescribed interests, issue a duplicate certificate or document to the owner:

   (a)  if the company requires the payment of an amount not exceeding the
        prescribed amount-within 21 days after the payment is received by the
        company or within such longer period as the Commission approves; or

   (b)  in a case to which paragraph (a) does not apply-within 21 days after
        the application is made or within such longer period as the Commission
        approves.

(2) The application shall be accompanied by:

   (a)  a statement in writing that the certificate or document has been lost
        or destroyed, and has not been pledged, sold or otherwise disposed of,
        and, if lost, that proper searches have been made; and

   (b)  an undertaking in writing that if it is found or received by the owner
        it will be returned to the company.

(3) The directors of a company may, before accepting an application for the
issue of a duplicate certificate or document, require the applicant:

   (a)  to cause an advertisement to be inserted in a daily newspaper
        circulating in a place specified by the directors stating that the
        certificate or document has been lost or destroyed and that the owner
        intends, after the end of 14 days after the publication of the
        advertisement, to apply to the company for a duplicate; or

   (b)  to furnish a bond for an amount equal to at least the current market
        value of the shares, debentures or prescribed interests indemnifying
        the company against loss following the production of the original
        certificate or document; or to do both those things.