Victorian Numbered Regulations

BORROWING AND INVESTMENT POWERS (STOCK, BONDS AND DEBENTURES) REGULATIONS 2017 (SR NO 95 OF 2017) - REG 21

    (1)     Stock that is registered or inscribed in the stock register may be transferred if—

        (a)     the transferor and transferee of the stock lodge at the registry an instrument of transfer and acceptance signed by the transferor and transferee; and

        (b)     in the case of the transfer of registered debenture stock, that instrument is accompanied by the certificate of registration for the stock.

    (2)     On receipt of an instrument of transfer and acceptance in accordance with subregulation (1), the registrar must register the instrument by taking the following actions—

        (a)     cancelling the registration or inscription of the stock in the stock register in the name of the transferor and, in the case of registered debenture stock, cancelling the certificate of registration;

        (b)     registering or inscribing the stock in the stock register in the name of the transferee;

        (c)     issuing to the transferee a certificate of inscription or, in the case of registered debenture stock, a certificate of registration.

    (3)     A person is not entitled to transfer stock worth less than $100 unless that stock is the remaining balance standing to that person's credit in the stock register.