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CORPORATIONS REGULATIONS 2001 - REG 7.11.17 Transfer document that purports to bear stamp of transferor's broker

CORPORATIONS REGULATIONS 2001 - REG 7.11.17

Transfer document that purports to bear stamp of transferor's broker

  (1)   This regulation applies if a transfer document relating to Division   3 assets or Division   3 rights:

  (a)   is a duly completed Part   1; and

  (b)   bears a stamp that purports to be a stamp of the transferor's broker (the designated broker ).

  (2)   Each associate (if any) of the designated broker is taken to have warranted:

  (a)   that the statements in the transfer document that purport to be certified by the designated broker are accurate; and

  (b)   that the transferor is:

  (i)   the registered holder of, or entitled to be registered as the holder of, the Division   3 assets; or

  (ii)   is entitled to the Division   3 rights;

    and is legally entitled or authorised to sell or dispose of the Division   3 assets or Division   3 rights.

  (3)   If the designated broker is not a broker's agent, the designated broker is taken to have warranted:

  (a)   that the statements in the transfer document that purport to be certified by the designated broker are accurate; and

  (b)   that the transferor is:

  (i)   the registered holder of, or entitled to be registered as the holder of, the Division   3 assets; or

  (ii)   is entitled to the Division   3 rights;

    and is legally entitled or authorised to sell or dispose of the Division   3 assets or Division   3 rights.

  (4)   The following additional arrangements apply if the transfer document has been duly completed in accordance with Part   1 of Form 1 or Form 5:

  (a)   if, when the transfer document was stamped with the stamp mentioned in paragraph   (1)(b), the designated broker had authority to sell the Division   3 assets or Division   3 rights, on the transferor's behalf, to:

  (i)   the transferee; or

  (ii)   particular persons who include, or particular classes of persons at least one of which includes, the transferee; or

  (iii)   any person at all;

    the designated broker is taken to have been authorised to execute, and to have executed, the transfer document on the transferor's behalf;

  (b)   each associate (if any) of the designated broker is liable to indemnify:

  (i)   the issuer in relation to the Division   3 assets or Division   3 rights; and

  (ii)   the transferor; and

  (iii)   the transferee; and

  (iv)   the transferee's broker;

    against any loss or damage arising if:

  (v)   the stamp mentioned in paragraph   (1)(b) is not the designated broker's stamp; or

  (vi)   apart from paragraph   (a), the designated broker was not authorised to execute the transfer document on the transferor's behalf;

  (c)   if the designated broker is not a broker's agent, the designated broker is liable to indemnify:

  (i)   the issuer in relation to the Division   3 assets or Division   3 rights; and

  (ii)   the transferor; and

  (iii)   the transferee; and

  (iv)   the transferee's broker;

    against any loss or damage arising if:

  (v)   the stamp mentioned in paragraph   (1)(b) is not the designated broker's stamp; or

  (vi)   apart from paragraph   (a), the designated broker was not authorised to execute the transfer document on the transferor's behalf.

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