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CORPORATIONS REGULATIONS 2001 - REG 7.11.34 ASTC entitled to assume its operating rules complied with

CORPORATIONS REGULATIONS 2001 - REG 7.11.34

ASTC entitled to assume its operating rules complied with

  (1)   This regulation applies if the prescribed CS facility operated by ASTC assumes without inquiry, in the absence of knowledge to the contrary, that anything purporting to be done under the ASTC operating rules in connection with a transfer of a Division   4 financial product has been done in accordance with those rules.

  (2)   If the prescribed CS facility operated by ASTC assumes, in reliance on subregulation   (1), that a thing was done in accordance with the ASTC operating rules, the thing is taken to have been done in accordance with those rules.

  (3)   If the prescribed CS facility operated by ASTC:

  (a)   acts on behalf of the issuer in relation to a Division   4 financial product; and

  (b)   as part of that function assumes, in reliance on subregulation   (1), that a thing was done in accordance with the ASTC operating rules;

the issuer is also taken to assume, and to be entitled to assume, that the thing was done in accordance with the ASTC operating rules.

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