shareholder/ collective action, page-4

"If the total liability of a bcs share is intrisic to the security then why did Commsec inform me I was only up for $2,000 and not the $4,000,000 I am now up for???"

If you needed an operation and suffered a serious complication which you were not warned of beforehand, you probably would have grounds to sue. What warning comsec gave you is a matter between yourself and Comsec.

The question regarding the liability is whether it is a liability of whoever owns the security at any time, or whether the liability is transferred in parts to the registered owner of the security at particular points in time. If the judge rules this to be the case, then provided you transfer your securities before the SIRD, you would not be committing an offence. I hope the judgement ends the nightmare for shareholders. I cannot fathom the despair that holders would feel at owning filth so toxic that to dispose of it may be deemed a criminal offence.

The sooner these types of security are abolished the better. There are other securities like this one. I regard it as only marginally better than a security that gives your creditors the right to remove digits until the debt is cleared.