Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 1112

1112. (1) A broker shall not stamp with a broker's stamp a document that
relates to marketable securities or marketable rights and may be used as a
sufficient transfer under this Division unless the document relates to a sale
or purchase of the securities or rights, in the ordinary course of the
broker's business, for a consideration of not less than their unencumbered
market value at the time of the sale or purchase.

(2) A person shall not stamp with a stamp that purports to be that of the
transferor's broker a document that may be used as a sufficient transfer under
this Division unless:

   (a)  the stamp is in fact that of the transferor's broker;

   (b)  apart from the effect of paragraph 1105 (3) (a), the transferor's
        broker is authorised to execute the document on the transferor's
        behalf; and

   (c)  the person is the transferor's broker or is authorised so to stamp the
        document on the transferor's broker's behalf.

(3) A securities exchange shall not stamp with a stamp of the securities
exchange a document that may be used as a sufficient transfer under this
Division of marketable securities or marketable rights, unless:

   (a)  there has been lodged; or

   (b)  the securities exchange holds a duly completed Part 1 bearing a
        certificate that purports to be that of the transferor's broker and
        states that there has been or will be lodged; with the issuing body in
        relation to the securities or rights a duly completed Part 1 relating
        to the securities or rights.

(4) A person shall not execute a document that may be used as a sufficient
transfer under section 1102 and relates to a transfer of marketable securities
or of marketable rights:

   (a)  made by way of a sale, gift or exchange of the securities or rights;
        or

   (b)  to or in favour of a person who is not the beneficial owner of the
        securities or rights.

(5) A person other than an authorised trustee corporation shall not knowingly
cause, authorise or permit to be executed a document that may be used as a
sufficient transfer under section 1102 but is not in fact a sufficient
transfer under that section.

(6) A person shall not knowingly lodge or cause to be lodged with an eligible
body a document that has been stamped in contravention of subsection (1), (2)
or (3), or that has been executed in contravention of subsection (4), for the
purpose of securing the registration of the transfer of, or the allotment or
issue of, marketable securities to the transferee named in the document.