Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p12
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 12/24)
Character Range: 1503467–1506362

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) For subsection 1071B(3) of the Act, for a transfer of unquoted securities, the State or Territory in this jurisdiction in which the company is taken to be registered is a prescribed detail.
 (2) In this regulation:
unquoted securities means securities (within the meaning of subsection 1071A(1) of the Act) that are not admitted to quotation on any of the financial markets operated by the Australian Stock Exchange Limited, Bendigo Stock Exchange Limited or National Stock Exchange of Australia Limited.

Division 4—Transfer of Division 4 financial products effected through prescribed CS facility

7.11.23  Application of Division 4
  This Division is made under sections 1074A and 1074E of the Act, and applies to transfers of Division 4 financial products effected through ASTC.
Note: ASTC—the ASX Settlement and Transfer Corporation Pty Limited—is a prescribed CS facility: see regulation 1.0.02AB.

7.11.24  Application of ASTC operating rules
  If the ASTC operating rules include provisions determining:
 (a) which participant effected a proper ASTC transfer; or
 (b) when a proper ASTC transfer takes effect;
those provisions have effect for this Division.

7.11.25  Participant's authority to enter into transaction continues despite client's death
 (1) This regulation applies if:
 (a) a person authorises a participant to enter into a transaction involving the disposal of a Division 4 financial product (for example, a sale); and
 (b) the person dies before the participant enters into the transaction; and
 (c) the authority is still in force immediately before the person dies.
 (2) The authority continues, despite the person's death, as if the person were still alive.
 (3) If the participant enters into the transaction while the authority so continues, the transaction is binding on the person's legal representative.
 (4) The authority can be revoked by the person's legal representative in any way that the person could have revoked it while the person was alive.

7.11.26  Authority to enter into transaction gives authority to transfer
 (1) This regulation applies if a person authorises a participant to enter into a transaction involving the disposal of a Division 4 financial product (for example, a sale).
 (2) The person is taken to have authorised the participant to effect any proper ASTC transfer of the Division 4 financial product that the participant effects, whether or not the transfer has any connection with the transaction.
Note: The transfer may have no connection with the transaction because of the operation of the provisions of the ASTC operating rules mentioned in subregulation 7.5.41(1).
 (3) The authority that the person is