Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.11.15

Transferee's execution of transfer of Division 3 assets

  (1)   If Division   3 assets are transferred by means of a sufficient transfer:

  (a)   the transferee is taken to have agreed at the execution time to accept the Division   3 assets subject to the terms and conditions on which the transferor held them at that time; and

  (b)   the terms and conditions are the terms and conditions applicable as between:

  (i)   the issuer in relation to the Division   3 assets; and

  (ii)   the holder for the time being of the Division   3 assets.

  (2)   If the Division   3 assets are shares, the transferee is also taken to have agreed, at the execution time:

  (a)   to become a member of the issuer; and

  (b)   to be bound, on being registered as the holder of the shares, by the issuer's constitution.


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