Document ID: chunk:federal_register_of_legislation:C2004A04501:schedule:2:p12
Version: federal_register_of_legislation:C2004A04501
Segment Type: schedule
Provision Reference: sch 2 (pt 12/22)
Character Range: 463944–467020

in whose favour the proper SCH transfer was effected, or purported to be effected; or";

     (b)    by omitting from paragraph (1)(b) "the person so stated" and substituting "that person";

     (c)     by omitting from paragraph (2)(a) "execution of the document" and substituting "unauthorised execution".

Discretion to pay amounts not received etc. because of failure to transfer securities

154. Section 972A of the Corporations Law is amended by omitting from paragraph (1)(b) "participating exchange" (wherever occurring) and substituting "settlement authority".

Application of Fund in respect of certain claims

155. Section 973 of the Corporations Law is amended by omitting from paragraph (1)(a) "950(2), 952(3)," and substituting "950(3), 950(4), 952(4), 952(5),".

Arbitration of amount of cash settlement of certain claims

156. Section 977 of the Corporations Law is amended by inserting "952A or" before "953" in the definition of "cash settlement provision" in subsection (7).

Subrogation of SEGC to claimant's rights etc.

  157. Section 980 of the Corporations Law is amended:

    (a)     by omitting from subsection (2) "of a document of transfer" and substituting "(within the meaning of that Division)";

    (b)    by omitting from subsection (2) "that execution of that document" and substituting "the conduct that constitutes the unauthorised execution".

Nature of shares and other interests

  158. Section 1085 of the Corporations Law is amended:

    (a)     by inserting in paragraph (1)(b) ", or, if they are applicable, the SCH business rules" after "articles";

    (b)    by inserting in paragraph (1)(c) "and, if they are applicable, the SCH business rules," after "articles,".

Numbering shares

  159. Section 1086 of the Corporations Law is amended:

    (a)     by omitting from paragraph (2)(a) "or" (last occurring) and substituting "and";

    (b)    by adding at the end of subsection (2) the following word and paragraph:

             "; and (c) a share need not have a distinguishing number if the SCH business rules provide that it need not have such a number.".

Instrument of transfer

  160. Section 1091 of the Corporations Law is amended:

  (a) by inserting before subsection (1) the following subsection:

     "(1AA) This section does not apply to an SCH-regulated transfer.";

  (b) by omitting from paragraph (1A)(b) "other".

Duties of company with respect to issue of certificates

  161. Section 1096 of the Corporations Law is amended:

    (a)     by omitting from subsection (1) "Within" and substituting "Subject to subsection (1A), within";

  (b)    by inserting after subsection (1) the following subsection:

     "(1A) If the SCH business rules include a provision to the effect that:

        (a)     no document is required by subsection (1) to be completed and delivered by a company in relation to the allotment, issue or making available of a share, debenture or interest in specified circumstances; or

        (b)     the only document required by subsection (1) to be completed and delivered by