Holder of certificate may deal with certificate
186 Holder of certificate may deal with certificate
The person registered as the owner of a certificate may, subject to this Part, deal with the certificate as its absolute owner and give good discharges for a consideration for the dealing.
This clause is subject to any rights appearing in the register of certificates to belong to another person, being rights that are registered in accordance with the regulations.
This clause only protects a person who deals with the person registered as the owner of the certificate as a purchaser in good faith for value and without notice of any fraud on the part of the registered owner.
Despite subclause (3), a person who purchases a certificate in good faith for value does not lose the protection provided by this clause because the person has notice that a person has been found guilty of an offence against this Part in respect of the creation of a certificate.
This provision refers to the regulations (the regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.