ASIC v ISX Hearing, page-2464

difficult to control financial transaction that are out of ur control.
companies are required to maintain a list of the shareholders, many companies outsource this task to registries like Automic.

a pretend story.....

a company, lets call it isxufc, has a SOI (shares on issue) of 1,000 shares,,,, and isxufc only has 2 shareholders.... person A has 950 shares, person B has 50 shares (so 1,000 shares SOI)

a nasty shorter comes along, borrows 100 shares from Person A, and sells them to Person C on the "market". So Person A is the "lender" . those 100 shares then get recorded in the ownership register as being owned by Person C.

hmmmmm..........

so on the register,
Person C owns 100 shares.
Person B owns 50 shares.

How many shares does the register show Person A owns?