Section 1070A — Corporations Act 2001: 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.