Document ID: chunk:federal_register_of_legislation:C2004A04041:section:1990:p115
Version: federal_register_of_legislation:C2004A04041
Segment Type: section
Provision Reference: s 1990 (pt 115/212)
Character Range: 303351–306258

to the Commission for the grant of its approval to a person acting as trustee or representative for the purposes of a deed.

"(4) On an application under subsection (2), the Commission may, subject to such terms and conditions as it thinks fit, grant its approval to the person acting as trustee or representative for the purposes of the deed.

"(5) The Commission may at any time, because of a breach of a term or condition subject to which the approval was granted or for any other reason, revoke an approval granted under this section or a corresponding previous law.

  "(6) This section has effect subject to section 102a.".

Subsection 1068 (1):

  Omit "a deed", substitute "an approved deed".

Subparagraph 1068 (1) (b) (iii):

  After "corresponding" insert "previous".

Subsection 1069 (5):

  Omit "law", substitute "previous law of this jurisdiction".

Paragraph 1069 (6) (a):

  Omit "law", substitute "previous law of this jurisdiction".

Paragraph 1069 (8) (a):

  Omit "by a corporation".

Paragraph 1069 (8) (c):

  Omit "law", substitute "previous law of this jurisdiction".

SCHEDULE 1—continued

Subsection 1069 (8):

Omit "law" (last occurring), substitute "previous law of this jurisdiction, as the case may be".

Paragraph 1069 (9) (a):

  After "every" insert "approved".

Paragraph 1069 (10) (a):

  Omit "a deed", substitute "an approved deed".

Subsection 1070 (1):

     (a) After "each deed" insert "that is or has at any time been an approved deed and".

     (b) Before "under the deed" insert "(whether made available in this jurisdiction or elsewhere)".

Subsection 1073 (1):

  Omit "made available by a corporation".

After section 1077:

  Insert:

Exempt securities

  "1077a. This Division does not apply in relation to:

     (a) an invitation to subscribe for or buy securities that because of section 69a are exempt securities in relation to this jurisdiction; or

   (b) an offer of such securities for subscription or purchase.".

Subsection 1084 (9):

  After "corresponding" (wherever occurring) insert "previous".

Subsection 1087:

  Repeal the section, substitute:

Certificate to be evidence of title

"1087. (1) A certificate issued after the commencement of this section specifying shares held by a member of a company:

     (a) must be under the common seal of the company, or, in the case of a share certificate relating to shares on a branch register, the common or official seal of the company; and

   (b) must state:

       (i) the name of the company and its jurisdiction of incorporation; and

       (ii) the class of the shares; and

SCHEDULE 1—continued

         (iii) the nominal value of the shares and the extent to which the shares are paid up.

"(2) A certificate issued in accordance with subsection (1) or a corresponding previous law specifying shares held by a member of a company is prima facie evidence of the title of the member