Companies Act 2016 · Updated to 31 Jan 2025 · Part III · Management of Company
150. Non-application of section 472 to disposition made by way of book entry
Feedback & support(1)
Subsection 472(1) shall not apply to a disposition of property made by way of book entry by a central depository.
(2)
Notwithstanding subsection (1), if the Court is satisfied that a party to the disposition other than the central depository had notice that a petition has been presented for the winding up of the other party to the disposition, the Court may—
(a)
award damages against the party on such terms as the Court thinks equitable; or
(b)
make such other orders as the Court thinks fit, including an order for the transfer of deposited securities by the party, except an order for the rectification of the record of depositors.
Exemption from this Subdivision