Commonwealth Consolidated Regulations

[Index] [Table] [Search] [Search this Regulation] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

CORPORATIONS REGULATIONS 2001 - REG 7.11.29

Warranties by participant if identification code is included in transfer document

  (1)   This regulation applies if the transfer document for a proper ASTC transfer of a Division   4 financial product includes a participant's identification code as the identification code of the participant effecting the transfer.

  (2)   If the participant is the transferor, the participant is taken to have warranted that:

  (a)   the transfer was effected by the participant; and

  (b)   the transferor was legally entitled or authorised to transfer the Division   4 financial product.

  (3)   Subregulation (4) applies if:

  (a)   the participant is not the transferor; and

  (b)   the transfer is pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:

  (i)   the transaction was entered into in the ordinary course of trading on a financial market;

  (ii)   the transaction is, under the operating rules of a market licensee, described, or to be described, as 'special' when it is reported to the market licensee.

  (4)   The participant is taken to have warranted that:

  (a)   the transferor was legally entitled or authorised to transfer the Division   4 financial product; and

  (b)   the transfer was effected by the participant; and

  (c)   the participant was authorised by the transferor to effect the transfer.

  (5)   Subregulation (6) applies if:

  (a)   the participant is not the transferor; and

  (b)   the transfer is not pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:

  (i)   the transaction was entered into in the ordinary course of trading on a financial market;

  (ii)   the transaction is, under the operating rules of a market licensee, described, or to be described, as 'special' when it is reported to the market licensee.

  (6)   The participant is taken to have warranted that:

  (a)   the transfer was effected by the participant; and

  (b)   the participant was authorised by the transferor to effect the transfer.


AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback