Marking of transfers
28 Marking of transfers
(1) In this regulation, to mark means to record on the register and on a transfer that stock to which the transfer relates is reserved and is negotiable only on the lodging of the transfer with the registrar.
(2) The registrar, or an interstate agent authorised to do so, may mark stock.
(3) The registrar, or an authorised interstate agent, is not to mark stock unless it is fully paid.
(4) The registrar, or an authorised interstate agent, has full discretion whether or not to mark stock and may request further details from a transferor or transferee.
(5) The registrar, or an authorised interstate agent, may mark stock that:
is inscribed in the register; and
has been properly executed by the transferor,
with the words "stock held against this transfer for $ for a period of days from (date)".
(6) The period to be specified for the purposes of subregulation (5):
is 42 days or a longer period determined by the Corporation; and
(b) except with the approval of the registrar, is not to extend into the 30-day period immediately preceding the maturity date of the stock.
(7) Where stock is marked, the registrar or an interstate agent is not to give effect to a dealing in the stock during the period specified in the marking, except in pursuance of the transfer as marked.
(8) The registrar may arrange that marking facilities for stock inscribed in the register be available in the other States of Territories of the Commonwealth in which the registrar has appointed an interstate agent.
(9) The registrar is to notify the transferor of stock that the marking has been made in relation to the stock transferred.
Part 6 Payment of interest and redemption of stock
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.