Commonwealth Numbered Acts

CORPORATE LAW REFORM ACT 1992 No. 210 of 1992 - SECT 130

130. Section 924 of the Corporations Law is amended by omitting subsection (2)
and substituting the following subsection:

"(2) A person ('the transferor') transfers securities to another person ('the
transferee') if, and only if:

   (a)  in the case of an SCH-regulated transfer - the transferor does, or
        causes to be done, all things that the SCH business rules require to
        be done by or on behalf of the transferor to effect the transfer; or

   (b)  in any other case - the transferor delivers, or causes to be
        delivered, to the transferee documents ('transfer documents') that are
        sufficient to enable the transferee:

        (i)    except in the case of marketable rights within the meaning of
               Division 3 of Part 7.13 - to become registered as the holder of
               the securities; or

        (ii)   in the case of such marketable rights - to obtain the issue to
               the transferee of the securities to which the marketable rights
               relate; without the transferor doing anything more, or causing
               anything more to be done, by way of executing or supplying
               documents.".