(1) If a person authorises a member organisation to enter into a transaction (for example, a sale) involving the disposal of quoted securities or quoted rights, the person is taken also to have authorised the member organisation to effect any proper SCH transfer of all or any of those securities or rights that the member organisation effects, even if the transfer has no connection with the transaction.

Note: The transfer may have no connection with the transaction because of the operation of the provisions of the SCH business rules referred to in subsection 954P(1).

(2) The authority that the person is taken, by subsection (1), to have given:

(a)

is revoked if, before the transaction is entered into, the authority to enter into the transaction is revoked or otherwise ceases to have effect; and

(b)

cannot otherwise be revoked; and

(c)

if the person dies after the transaction is entered into—continues in force, despite the person's death, as if the person were still alive (but cannot be revoked).