Commonwealth Consolidated Regulations

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CORPORATIONS REGULATIONS 2001 - REG 7.11.40

Stamping of broker's stamp on sufficient transfer

  (1)   A broker must not stamp with a broker's stamp a document (a transfer document ) that:

  (a)   relates to Division   3 securities; and

  (b)   may be used as a sufficient transfer under this Part;

unless the transfer document relates to a sale or purchase of the Division   3 securities, in the ordinary course of the broker's business, for a consideration of not less than their unencumbered market value at the time of the sale or purchase.

  (2)   A person must not stamp a transfer document with a stamp that purports to be that of the transferor's broker unless:

  (a)   the stamp is the stamp of the transferor's broker; and

  (b)   apart from paragraph   7.11.17(4)(a), the transferor's broker is authorised to execute the document on the transferor's behalf; and

  (c)   the person is:

  (i)   the transferor's broker; or

  (ii)   authorised to stamp the document on the transferor's broker's behalf.

  (3)   A market licensee must not stamp with a stamp of the market licensee a document that may be used as a sufficient transfer under this Part of Division   3 securities unless:

  (a)   a duly completed Part   1, relating to the Division   3 securities, has been lodged with the issuer in relation to the Division   3 securities; or

  (b)   the market licensee holds a duly completed Part   1 that:

  (i)   bears a certificate that purports to be that of the transferor's broker; and

  (ii)   states that a duly completed Part   1, relating to the Division   3 securities, has been lodged or will be lodged with the issuer in relation to the Division   3 securities.

  (4)   A person must not execute a document that:

  (a)   may be used as a sufficient transfer under regulation   7.11.12 or 7.11.13; and

  (b)   relates to a transfer of Division   3 securities:

  (i)   made by way of a sale, gift or exchange of the Division   3 securities; or

  (ii)   to or in favour of a person who is not the beneficial owner of the Division   3 securities.

  (5)   A person who is not a licensed trustee company, a Public Trustee of a State or Territory, or a company listed in Schedule   9 must not knowingly cause, authorise or permit to be executed a document that:

  (a)   relates to Division   3 securities; and

  (b)   may be used as a sufficient transfer under regulation   7.11.12 or 7.11.13;

but is not a sufficient transfer under that regulation.

  (6)   A person must not knowingly lodge or cause to be lodged with a company a document that has been:

  (a)   stamped in contravention of subregulation   (1), (2) or (3); or

  (b)   executed in contravention of subregulation   (4);

for the purpose of securing the registration of the transfer of, or the issue of, Division   3 securities to the transferee named in the document.


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