(1AA) This section does not apply to an SCH-regulated transfer. (1) Notwithstanding anything in its constitution or in a deed relating to debentures or interests, a company must not register a transfer of shares, debentures or interests unless a proper instrument of transfer has been delivered to the company. (1A) An instrument of transfer is not a proper instrument of transfer for the purposes of subsection (1) unless:

(a)

in the case of a transfer of marketable securities (within the meaning of Division 3 of Part 7.13)—it is a sufficient transfer of the marketable securities under that Division; or

(b)

in any case—it shows the prescribed details in relation to the company concerned.

(2) Subsection (1) does not prejudice the power of the company to register as a shareholder, debenture holder or interest holder a person to whom the right to any shares in, debentures of, or interests made available by, the company has devolved by will or by operation of law. (3) Subsections (4) to (11) deal with a transfer of a share, debenture or interest of a dead holder by the dead holder's personal representative. (4) The rules depend on whether the personal representative is a local representative or not. (5) The personal representative is a local representative if the representative is duly constituted as personal representative under the law of the State or Territory in which the share, debenture or interest is situated.

Note: Subsection 1085(3) provides that the share, debenture or interest is situated where the relevant register is kept.

(6) If the personal representative is a local representative, a transfer of the share, debenture or interest by the representative is as valid as if the representative had been registered as the holder of the share, debenture or interest at the time when the instrument of transfer was executed. (7) If:

(a)

the personal representative is not a local representative; and

(b)

the representative:

(i)

executes an instrument of transfer of the share, debenture or interest to the representative or to another person; and

(ii)

delivers the instrument to the company; and

(iii)

delivers to the company with the instrument a statement in writing made by the representative to the effect that, to the best of the representative's knowledge, information and belief, no grant of representation of the estate of the deceased holder has been applied for or made in the State or Territory in which the share, debenture or interest is located and no application for such a grant will be made; and

(c)

the statement is made within the period of 3 months immediately before the date on which the statement is delivered to the company;