Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1109

1109. An eligible body with which a sufficient transfer under this Division is
lodged for the purpose of registering a transfer, or obtaining the allotment
or issue, of marketable securities is, and its officers are, in the absence of
knowledge to the contrary, entitled to assume without inquiry that:

   (a)  in the case of a sufficient transfer under section 1101:

        (i)    a stamp on the document that purports to be the transferor's
               broker's stamp is the stamp of that broker;

        (ii)   a stamp on the document that purports to be the transferee's
               broker's stamp is the stamp of that broker; and

        (iii)  a stamp on the document that purports to be the stamp of a
               securities exchange is the stamp of that securities exchange;
               or

   (b)  in the case of a sufficient transfer under section 1102:

        (i)    at the execution time, the authorised trustee corporation named
               in the instrument held (whether alone or together with any
               other person or persons) in the ordinary course of its
               business, in trust for or on behalf of the transferee, the
               marketable securities or marketable rights to which the
               sufficient transfer relates; and

        (ii)   the transfer was not made by way of a sale, gift or exchange of
               the securities or rights.