Document ID: chunk:federal_register_of_legislation:F2024C01249:reg:21:p9
Version: federal_register_of_legislation:F2024C01249
Segment Type: reg
Provision Reference: reg 21 (pt 9/24)
Character Range: 1496205–1498874

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 broker).
 (2) Each associate (if any) of the designated broker is taken to have warranted:
 (a) that the statements in the transfer document that purport to be certified by the designated broker are accurate; and
 (b) that the transferor is:
 (i) the registered holder of, or entitled to be registered as the holder of, the Division 3 assets; or
 (ii) is entitled to the Division 3 rights;
  and is legally entitled or authorised to sell or dispose of the Division 3 assets or Division 3 rights.
 (3) If the designated broker is not a broker's agent, the designated broker is taken to have warranted:
 (a) that the statements in the transfer document that purport to be certified by the designated broker are accurate; and
 (b) that the transferor is:
 (i) the registered holder of, or entitled to be registered as the holder of, the Division 3 assets; or
 (ii) is entitled to the Division 3 rights;
  and is legally entitled or authorised to sell or dispose of the Division 3 assets or Division 3 rights.
 (4) The following additional arrangements apply if the transfer document has been duly completed in accordance with Part 1 of Form 1 or Form 5:
 (a) if, when the transfer document was stamped with the stamp mentioned in paragraph (1)(b), the designated broker had authority to sell the Division 3 assets or Division 3 rights, on the transferor's behalf, to:
 (i) the transferee; or
 (ii) particular persons who include, or particular classes of persons at least one of which includes, the transferee; or
 (iii) any person at all;
  the designated broker is taken to have been authorised to execute, and to have executed, the transfer document on the transferor's behalf;
 (b) each associate (if any) of the designated broker is liable to indemnify:
 (i) the issuer in relation to the Division 3 assets or Division 3 rights; and
 (ii) the transferor; and
 (iii) the transferee; and
 (iv) the transferee's broker;
  against any loss or damage arising if:
 (v) the stamp mentioned in paragraph (1)(b) is not the designated broker's stamp; or
 (vi) apart from paragraph (a), the designated broker was not authorised to execute the transfer document on the transferor's behalf;
 (c) if the designated broker is not a broker's agent, the designated broker is liable to indemnify:
 (i) the issuer in relation to the Division 3 assets or Division 3 rights; and
 (ii) the transferor; and
 (iii) the transferee; and
 (iv) the transferee's broker;