Nature of shares and certain other interests in a company or registered scheme
(1) A share, other interest of a member in a company or interest of a person in a registered scheme: (a) is personal property; and (b) is transferable or transmissible as provided by: (i) the company’s, or scheme’s, constitution; or (ii) the operating rules of a prescribed CS facility if they are applicable; and (c) is capable of devolution by will or by operation of law. (2) Paragraph (1)(c) has effect subject to: (a) in the case of a company: (i) the company’s constitution (if any); and (ii) any replaceable rules that apply to the company; and (iii) the operating rules of a prescribed CS facility if they apply to the share or interest; and (b) in the case of a scheme: (i) the scheme’s constitution; and (ii) the operating rules of a prescribed CS facility if they apply to the interest. (3) Subject to subsection (1): (a) the laws applicable to ownership of, and dealing with, personal property apply to a share, other interest of a member in a company or interest of a person in a registered scheme as they apply to other property; and (b) equitable interests in respect of a share, interest of a member in a company or other interest of a person in a registered scheme may be created, dealt with and enforced as in the case of other personal property. (4) For the purposes of any law, a share, other interest of a member in a company or interest of a person in a registered scheme is taken to be situated: (a) if the share, interest in a company, or interest in a registered scheme is entered on the register kept under section 169—in the State or Territory where that register is kept; or (b) if the share or interest in the company is entered on an overseas branch register kept under section 178—in the foreign country where that register is kept.
Sourced from the Federal Register of Legislation at 17 May 2026. For the latest information on Australian Government law please go to https://www.legislation.gov.au. Verify the current text against the official source before relying on it.
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