CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1091B Transmission of shares on mental incapacity (replaceable
CORPORATIONS ACT 2001 No. 50, 2001 - SECT 1091B
Transmission of shares on mental incapacity (replaceable(1) If a person entitled to shares because of the mental incapacity of a shareholder gives the directors the information they reasonably require to establish the person's entitlement to be registered as the holder of the shares:
- (a) the person may:
- (b) the person is entitled, whether or not registered as the holder of the
shares, to the same rights as the shareholder.
(2) On receiving an election under subparagraph (1)(a)(i), the company must register the person as the holder of the shares. (3) A transfer under subparagraph (1)(a)(ii) is subject to the same rules (for example, about entitlement to transfer and registration of transfers) as apply to transfers generally.