Document ID: chunk:federal_register_of_legislation:C2025C00185:section:414:p4
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 414 (pt 4/4)
Character Range: 1413610–1414901

the transferee is entitled to acquire under this section and is executed, on the shareholder's behalf, by a person appointed by the transferee and, on the transferee's own behalf, by the transferee; and
 (e) pay, allot or transfer to the transferor company the consideration for the shares.
 (13) When the transferee has complied with subsection (12), the transferor company must register the transferee as the holder of the shares.
 (14) All sums received by the transferor company under this section must be paid into a separate bank account and those sums, and any other consideration so received, must be held by that company in trust for the several persons entitled to the shares in respect of which they were respectively received.
 (15) Where a sum or other property received by a company under this section has been held in trust by the company for a person for at least 2 years (whether or not that period began before the commencement of this Act), the company must, before the end of 10 years after the day on which the sum was paid, or the consideration was allotted or transferred, to the company, pay the sum or transfer the consideration, and any accretions to it and any property that may become substituted for it or for part of it, to ASIC to be dealt with under Part 9.7.