Victorian Consolidated Legislation

Marketable Securities Act 1970 - SECT 6

Transfers by authorized trustee corporations

6. Transfers by authorized trustee corporations



(1) In respect of the transfer of marketable securities by an authorized
trustee corporation to the beneficial owner of those marketable securities,
being a transfer that is not made by way of a sale gift or exchange of the
marketable securities, a document is a sufficient instrument of transfer if-

   (a)  it is an instrument relating to those marketable securities duly
        completed in accordance with or to the effect of Form Eight; and

   (b)  where the document relates to marketable securities on which there is
        an uncalled liability (not being marketable securities that are partly
        paid shares in a no-liability company), the transferee's acceptance of
        the marketable securities duly completed in accordance with or to the
        effect of Form Nine is included in or attached to the instrument
        referred to in paragraph (a).

(2) In respect of the transfer of rights to marketable securities by an
authorized trustee corporation in favour of the beneficial owner of those
rights, being a transfer that is not made by way of a sale, gift or exchange
of the rights, a document is a sufficient instrument of transfer if-

   (a)  it is an instrument relating to those rights duly completed in
        accordance with or to the effect of Form Ten; and

   (b)  where the document relates to rights to marketable securities (not
        being marketable securities that are shares in a no-liability company)
        for which the whole of the moneys to be subscribed is not payable in
        full on application being made for them, the transferee's acceptance
        of the rights duly completed in accordance with or to the effect of
        Form Eleven is included in or attached to the instrument referred to
        in paragraph (a).