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CORPORATIONS ACT 2001

CHAPTER 9 - MISCELLANEOUS  

PART 9.7 - UNCLAIMED PROPERTY  

SECTION 1343  

1343  DISPOSAL OF SECURITIES IF WHEREABOUTS OF HOLDER UNKNOWN  

Where a person has been shown in an appropriate register of a company as the holder of securities of the company for a period of at least 6 years and the company has, for a period of at least 6 years:


(a) had reasonable grounds for believing that the person was not residing at the address shown in the register as the person's address; and


(b) on each occasion during that last-mentioned period when, whether or not in accordance with a provision of this Act, it sought to communicate with the person, being unable after the exercise of reasonable diligence to do so;

the company may, by executing a transfer for and on behalf of the person, transfer to ASIC:


(c) the securities; and


(d) any rights in respect of the securities;

to be dealt with under this Part.

 



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