CORPORATIONS REGULATIONS 2001 - REG 7.11.39 Determination of who holds Division 4 financial products for the purposes of conferring security benefits

CORPORATIONS REGULATIONS 2001 - REG 7.11.39

  (1)   If the ASTC operating rules include provisions relating to the determination, for the purposes of conferring security benefits, of who holds or is taken to hold Division   4 financial products at a particular time, those provisions have effect accordingly despite anything in:

  (a)   the Act; and

  (b)   these Regulations; and

  (c)   any other law (written or unwritten) that applies to the conferral; and

  (d)   any document that applies to the conferral (for example, the body corporate's constitution or a relevant trust deed).

  (2)   In subregulation   (1), conferring a security benefit means:

  (a)   paying or transferring money or property to a person because the person holds or held a Division   4 financial product; or

  (b)   issuing securities to a person because the person holds or held a Division   4 financial product; or

  (c)   conferring a right on a person because the person holds or held a Division   4 financial product.