CORPORATIONS REGULATIONS 2001 - REG 7.11.16 Transferee's execution of transfer of Division 3 rights

CORPORATIONS REGULATIONS 2001 - REG 7.11.16

  (1)   If Division   3 rights relating to Division   3 assets are transferred by means of a sufficient transfer, the transferee is taken:

  (a)   to have applied at the execution time to the issuer in relation to the Division   3 assets for the issue to the transferee of the Division   3 assets; and

  (b)   to have agreed at the execution time to accept the Division   3 assets subject to the terms and conditions on which the issuer offers them for subscription.

  (2)   If the Division   3 assets are shares, the transferee is also taken to have agreed, at the execution time:

  (a)   to become a member of the issuer; and

  (b)   to be bound, on being registered as the holder of the shares, by the issuer's constitution.