(1) This section applies if the transfer document for a proper SCH transfer of quoted securities or quoted rights includes a member organisation's identification code as the identification code of the member organisation effecting the transfer. (2) If the member organisation is the transferor, the member organisation or, if it is a partnership, each of the partners in the member organisation, is taken to have warranted that:

(a)

the transfer was effected by the member organisation; and

(b)

the transferor was legally entitled or authorised to transfer the securities or rights.

(3) If:

(a)

the member organisation is not the transferor; and

(b)

the transfer is pursuant to a transaction in relation to which, or to transactions in relation to each of which, one of the following conditions is satisfied:

(i)

the transaction was entered into in the ordinary course of trading on a stock market; and

(ii)

the transaction is, under the business rules or listing rules of a stock exchange, described, or to be described, as "special" when it is reported to the stock exchange;