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CORPORATIONS ACT 2001

CHAPTER 7 - FINANCIAL SERVICES AND MARKETS    View history reference

PART 7.11 - TITLE AND TRANSFER    View history reference

Division 2 - Transfer of certain securities    View history reference

Subdivision B - Special provisions for shares    View history reference

SECTION 1072D  TRANSMISSION OF SHARES ON MENTAL INCAPACITY (REPLACEABLE RULE - SEE SECTION 135)  

 View history reference

1072D(1)  [Transmission]  


If a person entitled to shares because of the mental incapacity of a shareholder gives the directors the information they reasonably require to establish the person's entitlement to be registered as the holder of the shares:


(a) the person may:


(i) by giving a written and signed notice to the company, elect to be registered as the holder of the shares; or

(ii) by giving a completed transfer form to the company, transfer the shares to another person; and


(b) the person is entitled, whether or not registered as the holder of the shares, to the same rights as the shareholder.

1072D(2)  [Election]  


On receiving an election under subparagraph (1)(a)(i), the company must register the person as the holder of the shares.

1072D(3)  [Transfer rules]  


A transfer under subparagraph (1)(a)(ii) is subject to the same rules (for example, about entitlement to transfer and registration of transfers) as apply to transfers generally.


 



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