Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p14
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 14/24)
Character Range: 1508601–1511169

regulation:
right means a right, whether existing or future, and whether contingent or not, of a person to have any of the following issued to the person, whether or not on payment of any money or for any other consideration:
 (a) a share in a company (including a body to which section 1073C of the Act applies);
 (b) a debenture of a company (including a body to which section 1073C of the Act applies);
 (c) an interest in a registered scheme mentioned in regulations made under paragraph 1073A(1)(c) of the Act.

7.11.28  Effect of proper ASTC transfer on transferee: rights
 (1) If a proper ASTC transfer of a Division 4 financial product that is rights (other than rights that relate to an interest in a managed investment scheme) takes effect at a particular time, the transferee is taken:
 (a) to have applied at that time to the issuer in relation to the rights for the issue to the transferee of the Division 4 financial product to which the rights relate; and
 (b) to have agreed at that time to accept the Division 4 financial product to which the rights relate subject to the terms and conditions on which the issuer offers them for subscription.
 (2) If the Division 4 financial product to which the rights (other than rights that relate to an interest in a managed investment scheme) relate is shares, the transferee is also taken to have agreed, at that 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.
 (3) If the Division 4 financial product is a right to an interest in a managed investment scheme, the transferee is also taken to have agreed at that time:
 (a) to have applied at that time to the responsible entity in relation to the rights for the issue to the transferee of the interest in a managed investment scheme to which the rights relate; and
 (b) to have agreed at that time to accept the interest in a managed investment scheme to which the rights relate subject to the terms and conditions on which they are offered by the responsible entity; and
 (c) to become a member of the managed investment scheme; and
 (d) to be bound by the constitution of the managed investment scheme to the extent that:
 (i) the transferee will comply with any requirement imposed on the transferee by the constitution; and
 (ii) the transferee will not impede compliance by another person with any requirement imposed on the other person by the constitution.
 (4) In this regulation:
right means a right, whether existing or future, and whether contingent or