Part 9 — Security Certificates, Registers and Transfers Division 1 Interpretation and Application
197 Guarantee
transfer or for payment or exchange guarantees to the issuer that
the person is entitled to do so.
(2) A good faith purchaser who receives a new, re-issued or
re-registered security and who registers a transfer guarantees only
that the purchaser has no knowledge of any unauthorized signature
in a necessary endorsement.