Commonwealth Numbered Acts

COMPANIES ACT 1981 No. 89 of 1981 - SECT 183

183. (1) Notwithstanding anything in its articles or in a deed relating to
debentures or interests, a company shall not register a transfer of shares,
debentures or interests unless a proper instrument of transfer has been
delivered to the company.

(2) Sub-section (1) does not prejudice the power of the company to register as
a shareholder, debenture holder or interest holder a person to whom the right
to any shares in, debentures of, or interests made available by, the company
has devolved by will or by operation of law.

(3) A transfer of shares, debentures or interests of a deceased holder made by
his personal representative is, although the personal representative is not
himself registered as the holder of those shares, debentures or interests, as
valid as if he had been so registered at the time of the execution of the
instrument of transfer.

(4) Where the personal representative of a deceased holder duly constituted as
such under the law of a State or of another Territory-

   (a)  executes an instrument of transfer of a share, debenture or interest
        of the deceased holder to himself or to another person; and

   (b)  delivers the instrument to the company, together with a statement in
        writing made by him to the effect that, to the best of his knowledge,
        information and belief, no grant of representation of the estate of
        the deceased holder has been applied for or made in the Territory and
        no application for such a grant will be made, being a statement made
        within the period of 3 months immediately preceding the date of
        delivery of the statement to the company, the company shall register
        the transfer and pay to the personal representative any dividends or
        other moneys accrued in respect of the share, debenture or interest up
        to the time of the execution of the instrument, but this sub-section
        does not operate so as to require the company to do an act or thing
        that it would not have been required to do if the personal
        representative were the personal representative of the deceased holder
        duly constituted under the law of the Territory.

(5) A transfer or payment made pursuant to sub-section (4) and a receipt or
acknowledgment of such a payment is, for all purposes, as valid and effectual
as if the personal representative were the personal representative of the
deceased holder duly constituted under the law of the Territory.

(6) For the purposes of this section, an application by a personal
representative of a deceased person for registration as the holder of a share,
debenture or interest in place of the deceased person shall be deemed to be an
instrument of transfer effecting a transfer of the share, debenture or
interest to the personal representative.

(7) The production to a company of a document that is, under the law of the
Territory or under the law of a State or of another Territory, sufficient
evidence of probate of the will, or letters of administration of the estate,
of a deceased person having been granted to a person shall be accepted by the
company, notwithstanding anything in its articles, or in a deed relating to
debentures or interests, as sufficient evidence of the grant.
(8) In this section, ''interest'' includes a prescribed interest.