(1) This section has effect for the purposes of this Part (other than Division 7). (2) A person (the transferor ) transfers securities to another person (the transferee ) if, and only if:

(a)

in the case of an SCH-regulated transfer—the transferor does, or causes to be done, all things that the SCH business 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 marketable rights within the meaning of Division 3 of Part 7.13—to become registered as the holder of the securities; or

(ii)

in the case of such marketable rights—to obtain the issue to the transferee of the securities to which the marketable rights relate;

without the transferor doing anything more, or causing anything more to be done, by way of executing or supplying documents.

(3) 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;