Part 9 — Security Certificates, Registers and Transfers Division 1 Interpretation and Application
179 Division 4 Proceedings Rules of action
(a) each signature on the secu rity or in a necessary endorsement
is admitted unless specifically denied in the pleadings;
(b) a signature on the security is presumed to be genuine and
authorized but, if the effectiveness of the signature is in
issue, the burden of establishing that it is genuine and
authorized is on the party claiming under the signature;
(c) if a signature is admitted or established, production of a
certificate entitles the holder to recover on it unless the other
party establishes a defence or defect going to the validity of
the security;
(d) if the other party establishes the defence or defect, the
plaintiff has the burden of establishing that the defect is
ineffective against the plaintiff or some other person under
whom the claim is made.