Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p11
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 11/24)
Character Range: 1500997–1503689

from paragraph 7.11.17(4)(a), the designated broker was not authorised to execute the first document on behalf of the transferor in relation to the first document.
 (3) Each associate (if any) of the transferor's broker is liable to indemnify the market licensee against any loss or damage arising as mentioned in subregulation (2).
 (4) If the transferor's broker is not a broker's agent, the transferor's broker is liable to indemnify the market licensee against any loss or damage arising as mentioned in subregulation (2).
 (5) Nothing in this regulation limits the operation of anything in regulation 7.11.17 or 7.11.18 or of anything else in this regulation.

7.11.20  Joint and several warranties and liabilities
 (1) If 2 or more persons are taken to have warranted in the terms mentioned in paragraphs 7.11.17(2)(a) and (b) or 7.11.17(3)(a) and (b), the persons are taken to have warranted jointly and severally.
 (2) If 2 or more persons are liable as mentioned in paragraph 7.11.17(4)(b) or (c), or subregulation 7.11.19(3) or (4), the persons are liable jointly and severally.

7.11.21  Registration of certain instruments
 (1) This regulation applies if a sufficient transfer under this Part is lodged with a company for the purpose of:
 (a) registering a transfer of Division 3 assets; or
 (b) obtaining the issue of Division 3 assets.
 (2) If the sufficient transfer is a transfer under regulation 7.11.11, the company and its officers are, in the absence of knowledge to the contrary, entitled to assume without inquiry that:
 (a) a stamp on the transfer document that purports to be the transferor's broker's stamp is the stamp of that broker; and
 (b) a stamp on the transfer document that purports to be the transferee's broker's stamp is the stamp of that broker; and
 (c) a stamp on the transfer document that purports to be the stamp of a market licensee is the stamp of that market licensee.
 (3) If the sufficient transfer is a transfer under regulation 7.11.12 or 7.11.13, the company and its officers are, in the absence of knowledge to the contrary, entitled to assume without inquiry that:
 (a) at the execution time, the licensed trustee company, a Public Trustee of a State or Territory, or a company listed in Schedule 9 named in the instrument held (whether alone or together with any other person or persons) in the ordinary course of its business, in trust for or on behalf of the transferee, the Division 3 assets or Division 3 rights to which the sufficient transfer relates; and
 (b) the transfer was not made by way of a sale, gift or exchange of the Division 3 assets or Division 3 rights.

7.11.22  Details to be included in instrument of transfer
 (1)