Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1110

1110. (1) This Division applies in relation to a transfer of marketable
securities or marketable rights despite anything to the contrary in this Act
(other than this Division) or in another law or instrument relating to the
transfer of the securities or rights.

(2) Except as provided in this Division, this Division does not affect the
terms and conditions on which marketable securities or marketable rights are
sold.

(3) Nothing in this Division affects any right of an eligible body to refuse:

   (a)  to acknowledge or register a person as the holder of marketable
        securities; or

   (b)  to allot or issue marketable securities to a person; on a ground other
        than an objection to the form of instrument that is lodged with the
        eligible body and purports to transfer to the person the securities,
        or marketable rights relating to the securities.

(4) The registration of a transfer, or the allotment or issue, of a
marketable security by means of a sufficient transfer under this Division does
not breach any law, memorandum, articles, trust deed or other instrument
relating to marketable securities.

(5) This Division does not prevent or affect the use of:

   (a)  any other form of transfer of marketable securities or marketable
        rights; or

   (b)  any other mode of executing an instrument of transfer of marketable
        securities or marketable rights; that is otherwise permitted by law.

(6) A transfer of marketable securities or marketable rights by or to a
trustee or legal representative may be effected by means of a sufficient
transfer under this Division despite any law or the provisions of the
instrument (if any) creating, or having effect in relation to, the trust or
will under which the trustee or legal representative is appointed.