Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 213

213. (1) In this section:

"share", in relation to a body corporate, means a share in the body that is
registered in a register or branch register kept in Australia.

(2) A trustee, executor or administrator of the estate of a dead person who
was the registered holder of a share in a corporation may be registered as the
holder of that share as trustee, executor or administrator of that estate.

(3) A trustee, executor or administrator of the estate of a dead person who
was entitled in equity to a share in a corporation may, with the consent of
the corporation and of the registered holder of that share, be registered as
the holder of that share as trustee, executor or administrator of that estate.

(4) Where:

   (a)  a person is appointed, under a law of a State or Territory relating to
        the administration of the estates of persons who, through mental or
        physical infirmity, are incapable of managing their affairs, to
        administer the estate of a person who is so incapable; and

   (b)  the incapable person is the registered holder of a share in a
        corporation; the first-mentioned person may be registered as the
        holder of that share as administrator of that estate.

(5) Where:

   (a)  a person is appointed, under a law of a State or Territory relating to
        the administration of the estates of a person who, through mental or
        physical infirmity, are incapable of managing their affairs, to
        administer the estate of a person who is so incapable; and

   (b)  the incapable person is entitled in equity to a share in a
        corporation; the first-mentioned person may, with the consent of the
        corporation and of the registered holder of that share, be registered
        as the holder of the share as administrator of that estate.

(6) Where:

   (a)  by virtue of the Bankruptcy Act 1966, a share in a body corporate,
        being the property of a bankrupt, vests in the Official Trustee in
        Bankruptcy; and

   (b)  the bankrupt is the registered holder of that share; the Official
        Trustee may be registered as the holder of that share as the Official
        Trustee in Bankruptcy.

(7) Where:

   (a)  by virtue of the Bankruptcy Act 1966, a share in a body corporate,
        being the property of a bankrupt, vests in the Official Trustee in
        Bankruptcy; and

   (b)  the bankrupt is entitled in equity to that share; the Official Trustee
        may, with the consent of the body and of the registered holder of that
        share, be registered as the holder of that share as the Official
        Trustee in Bankruptcy.

(8) A person registered under subsection (2), (3), (4), (5), (6) or (7), is,
while registered as mentioned in that subsection, subject:

   (a)  to the same liabilities in respect of the share as those to which he,
        she or it would have been subject if the share had remained, or had
        been, as the case requires, registered in the name of the dead person,
        the incapable person or the bankrupt, as the case may be; and

   (b)  to no other liabilities in respect of the share.

(9) Shares in a corporation registered in a register or branch register and
held by a trustee in respect of a particular trust may, with the consent of
the corporation, be marked in the register or branch register in such a way as
to identify them as being held in respect of the trust.

(10) Except as provided in this section and section 209:

   (a)  no notice of a trust, whether express, implied or constructive, shall
        be entered on a register or a branch register kept in Australia or be
        receivable by the Commission;

   (b)  no liabilities are affected by anything done under a preceding
        subsection of this section or under section 209; and

   (c)  nothing so done affects the body corporate concerned with notice of a
        trust.

(12) Except as provided in a law corresponding to this section or to section 
209: 

   (a)  no liabilities are affected by anything done:

        (i)    at a time when a Division 2 company was a company of a State or
               Territory; and

        (ii)   under a law corresponding to subsection (2), (3), (4), (5),
               (6), (7) or (9) of this section or to section 209, as that law
               applied in relation to the company at that time; and

   (b)  nothing so done affects the company with notice of a trust.

(13) A person shall, within one month after beginning to hold shares in a
proprietary company as trustee for, or otherwise on behalf of or on account
of, a body corporate, serve on the company notice in writing that the person
so hold the shares.