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CORPORATIONS ACT 2001 No. 50, 2001 - SECT 956
Situations to which Division applies
(1) This Division applies if:
- a dealer executes a document of transfer
of securities on behalf of a person as transferor of the securities; and
- the transfer is not an SCH-regulated transfer; and
- apart from the effect of paragraph 1105(3)(a), the person did not
authorise the dealer to execute the document.
(2) This Division also applies if:
- a dealer effects, or purports to
effect, a proper SCH transfer of securities on behalf of a person; and
- apart from the effect of section 1109B, the person did not authorise
the dealer to effect the transfer.
(3) In this Division:
- the dealer's action referred to in whichever of
paragraphs (1)(a) and (2)(a) is applicable is called the
unauthorised execution ; and
- the person referred to in whichever of those paragraphs is applicable is
called the transferor ; and
- the securities referred to in whichever of those paragraphs is applicable
are called the transferred securities .
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