Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p8
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 8/24)
Character Range: 1493872–1496430

of the beneficial owner of those rights.
 (2) A document is a sufficient transfer of the Division 3 rights if it:
 (a) relates to those rights; and
 (b) is completed in accordance with Form 10.

7.11.14  Sufficient transfer
 (1) A document that is a sufficient transfer of Division 3 assets may be used:
 (a) as a proper instrument of transfer for section 1071B of the Act; and
 (b) as an instrument of transfer for the purposes of any other law or instrument governing or relating to those assets.
 (2) A document that is a sufficient transfer of Division 3 rights may be used as an instrument of transfer of those rights for the purposes of any law or instrument governing or relating to those rights.

7.11.15  Transferee's execution of transfer of Division 3 assets
 (1) If Division 3 assets are transferred by means of a sufficient transfer:
 (a) the transferee is taken to have agreed at the execution time to accept the Division 3 assets subject to the terms and conditions on which the transferor held them at that time; and
 (b) the terms and conditions are the terms and conditions applicable as between:
 (i) the issuer in relation to the Division 3 assets; and
 (ii) the holder for the time being of the Division 3 assets.
 (2) If the Division 3 assets are shares, the transferee is also taken to have agreed, at the execution time:
 (a) to become a member of the issuer; and
 (b) to be bound, on being registered as the holder of the shares, by the issuer's constitution.

7.11.16  Transferee's execution of transfer of Division 3 rights
 (1) If Division 3 rights relating to Division 3 assets are transferred by means of a sufficient transfer, the transferee is taken:
 (a) to have applied at the execution time to the issuer in relation to the Division 3 assets for the issue to the transferee of the Division 3 assets; and
 (b) to have agreed at the execution time to accept the Division 3 assets subject to the terms and conditions on which the issuer offers them for subscription.
 (2) If the Division 3 assets are shares, the transferee is also taken to have agreed, at the execution time:
 (a) to become a member of the issuer; and
 (b) to be bound, on being registered as the holder of the shares, by the issuer's constitution.

7.11.17  Transfer document that purports to bear stamp of transferor's broker
 (1) This regulation applies if a transfer document relating to Division 3 assets or Division 3 rights:
 (a) is a duly completed Part 1; and
 (b) bears a stamp that purports to be a stamp of the transferor's broker (the designated