(1) A transfer of securities takes place between a person (the transferor ) and another person (the transferee ) only if:
(a) in the case of an ASTC-regulated transfer--the transferor does, or causes to be done, all things that the ASTC operating rules require to be done by or on behalf of the transferor to effect the transfer; or
(b) in any other case--the transferor delivers, or causes to be delivered, to the transferee documents ( transfer documents ) that are sufficient to enable the transferee:
(i) except in the case of Division 3 rights--to become registered as the holder of the securities; or
(ii) in the case of Division 3 rights--to obtain the issue to the transferee of the securities to which the Division 3 rights relate;
without the transferor doing anything more, or causing anything more to be done, by way of executing or supplying documents.
(2) If a person:
(a) causes property (other than securities or money) to be transferred to another person; or
(b) causes documents that are sufficient to enable another person to become the legal owner of property (other than securities or money) to be delivered to another person;
the first-mentioned person is taken to have transferred the property to the other person.
(3) If a person causes money to be paid to another person, the first-mentioned person is taken to have paid the money to the other person.