Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW- SECT 1110

(1)

This Division applies in relation to a transfer of marketable securities or marketable rights despite anything to the contrary in this Law (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 (other than section 1109L) 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 document that is lodged with or sent to 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 Division 3 transfer does not breach any law, constitution, trust deed or other instrument relating to marketable securities.

(5)

Nothing in this Division (except section 1109K) prevents or affects the use of:

(a)

any other form of transfer of marketable securities or marketable rights; or

(b)

any other mode of executing a document transferring 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 Division 3 transfer 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.