24BRecord of equitable interests

24B Record of equitable interests

(1) The regulations may require a Registrar that is the operator of a clearing and settlement facility or is an incorporated company or other body corporate: (a) to keep a record (which may be a record kept by electronic means) of the ownership of any equitable interests in the stock; and (b) to comply with any provision made by the regulations in relation to the keeping of such a record. (2) Subsection (1) does not apply in relation to the keeping of a record of the ownership of any equitable interest in the stock that is a security interest within the meaning of the Personal Property Securities Act 2009, and to which that Act applies.

Note 1: The Personal Property Securities Act 2009 applies to certain security interests in personal property (including stock). See the following provisions of that Act:

(a) section 8 (interests to which the Act does not apply);
(b) section 12 (meaning of security interest);
(c) Chapter 9 (transitional provisions).

Note 2: That Act provides for registration in respect of security interests in personal property, including stock (see Chapter 5 of that Act).