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, within the meaning of Chapter   5D of the Act, 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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