Document ID: chunk:federal_register_of_legislation:C2025C00185:section:1074e:p1
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 1074E (pt 1/2)
Character Range: 4762043–4764726

1074E  Regulations may govern transfer of financial products in accordance with operating rules of prescribed CS facility

Transfers that regulations may deal with
 (1) The regulations may make provision in relation to transfers of financial products effected:
 (a) through a prescribed CS facility; and
 (b) in accordance with the operating rules of the facility.

Regulations may make provision in relation to the transfer of financial products
 (2) The regulations may specify:
 (a) the legal effect of a transfer of a financial product through the facility in accordance with its operating rules; and
 (b) the rights, liabilities and obligations of a person in relation to the transfer of a financial product through the facility, including the rights, liabilities and obligations of:
 (i) the transferor and transferee; and
 (ii) any other person involved in the transfer; and
 (c) the circumstances in which a person will be taken to be involved in the transfer of a financial product for the purposes of the regulations; and
 (d) the circumstances in which a person is required not to register, or give effect to, a transfer through the facility; and
 (e) the circumstances in which a person is required not to refuse or fail to register, or give effect to, a transfer through the facility; and
 (f) the circumstances in which a transfer through the facility will be taken to have been made in accordance with the rules of a prescribed CS facility; and
 (g) the circumstances in which a person will be taken to be the holder of a financial product for the purposes of:
 (i) a meeting; or
 (ii) paying or transferring money or property to a person because the person holds or held a financial product; or
 (iii) issuing a financial product to a person because the person holds or held a financial product; or
 (iv) conferring a right on a person because the person holds or held a financial product.

Rights and liabilities in relation to transfer
 (3) Without limiting paragraph (2)(b), the regulations may provide that a person:
 (a) is taken to have:
 (i) agreed to do, to accept or to be bound by a particular thing; or
 (ii) done a particular thing; or
 (iii) given particular warranties; or
 (iv) done particular things on behalf of another person; or
 (b) is taken to be authorised to do particular things on behalf of another person (even if the person has died); or
 (c) is taken to be bound by a particular act; or
 (d) is liable to indemnify another person against particular loss or damage; or
 (e) is entitled to assume a particular matter without inquiry.

Person involved in transfer
 (4) Without limiting paragraph (2)(c), the regulations may provide for any of