Commonwealth Repealed Acts

This legislation has been repealed.

CORPORATIONS LAW
- SECT 958

(1)

If, as a result of the unauthorised execution, a person (in this section called the claimant ), being:

(a)

in any case:

(i)

if subsection 956(1) applies—the person stated in the document as the transferee of the transferred securities; or

(ii)

if subsection 956(2) applies—the person in whose favour the proper SCH transfer was effected, or purported to be effected; or

(b)

if that person has disposed of any of the transferred securities—a successor in title of that person to any of the transferred securities;

suffers loss in respect of any of the transferred securities, the claimant may make a claim in respect of that loss.

(2)

A person is not entitled to make a claim under this section if the person:

(a)

had actual knowledge that the transferor did not in fact authorise the unauthorised execution; or

(b)

is an excluded person in relation to the dealer.