Regulations 1977 No. 10
| Regulations under the Canberra Commercial | Development |
Authority Ordinance 1974.*
| J, A N T H O N Y | A L L A N | S T A L E Y , | the | M i n i s t e r o f | State | for the Capi ta l | Terr i tory , |
| h e r e b y | m a k e | the | f o l l o w i n g | R e g u l a t i o n s | under | the | Canberra | Commercial | Develop |
| ment | Authority | Ordinance | 1 9 7 4 . |
| D a t e d | this | th i r t een th | day | of | Apr i l , | 1 9 7 7 . |
| M i n i s t e r | o f | State | for | the | Capi ta l | Terr i tory . |
| C A N B E R R A | C O M M E R C I A L | D E V E L O P M E N T | A U T H O R I T Y |
R E G U L A T I O N S
| P A R T | I — P R E L I M I N A R Y |
| 1. | T h e s e | R e g u l a t i o n s | m a y | be | c i ted | as | the | C a n b e r r a | C o m m e r c i a l | D e v e l o p m e n t |
| A u t h o r i t y | R e g u l a t i o n s . |
| 2. | (1) | In | t h e s e | R e g u l a t i o n s , | u n l e s s | the | c o n t r a r y | i n t e n t i o n | a p p e a r s — |
| " a p p r o v e d | f o r m | " | m e a n s | a | f o r m | a p p r o v e d | by | t h e | A u t h o r i t y ; |
| " Reg i s try " m e a n s | a Reg i s try for the inscr ipt ion | of | s tock; |
| " | s t o c k " | m e a n s | C a n b e r r a | C o m m e r c i a l | D e v e l o p m e n t | A u t h o r i t y | Stock |
| referred | t o in | r e g u l a t i o n | 3 : |
| " the | O r d i n a n c e | " m e a n s | the Canberra | Commercial | Development | Authority |
| Ordinance | 1 9 7 4 . |
| ( 2 ) | I n | t h e s e | R e g u l a t i o n s , | a re ference | t o the o w n e r | of | s tock | shal l | be read | as |
| i n c l u d i n g | a | r e f e r e n c e | t o | the | o w n e r s | o f | s tock | in | a | jo int | a c c o u n t . |
| * Notified in the Australian Government Gazette on 14 April 1977. |
| P A R T | I I — I S S U E | O F | S T O C K |
| 3. T h e | A u t h o r i t y | m a y | i s s u e | securi t ies | b y | w a y | of | inscr ibed | s tock , | ca l led |
| C a n b e r r a | C o m m e r c i a l | D e v e l o p m e n t | A u t h o r i t y | S t o c k — |
| ( a ) | for rais ing | by | w a y of | l o a n | any | m o n e y | that the A u t h o r i t y | m a y | b o r r o w |
| u n d e r | the | O r d i n a n c e ; | a n d |
| ( b ) | for c o n v e r t i n g | any loan | raised by the A u t h o r i t y | in to any o ther | l o a n | so |
| raised. |
| 4 . | (1 ) | S t o c k | m a y be i ssued and so ld | in such | a m o u n t s , at s u c h | pr ices | and | o n |
| s u c h | t erms | and | c o n d i t i o n s , | i n c l u d i n g | rates | and | t e r m s | and | c o n d i t i o n s | as | to | interest , |
| as | the | T r e a s u r e r | a p p r o v e s . |
(2) Where members of the public are invited to purchase stock, the Authority shall issue a prospectus inviting applications to purchase stock and setting out the amounts, price and terms and conditions of the stock, including rates and terms and conditions as to interest, so approved by the Treasurer.
5. (1) An application to purchase stock, being an application of the kind referred to in sub-regulation 4 (2), shall be in accordance with the approved form accompanying the prospectus inviting applications to purchase stock.
(2) An application under sub-regulation (1) to purchase stock shall be made in the manner specified in the prospectus.
(3) In the case of a joint account, the application under sub-regulation (1) shall set out the names of the owners in the order in which they are to appear in the Stock Ledger.
| PART | I I I — I N S C R I P T I O N , | TRANSMISSION | AND TRANSFER | OF | STOCK |
6. The Authority shall make arrangements for the establishment of Registries for the inscription of stock.
7. (1) All stock issued shall be inscribed by entering in a Stock Ledger kept in accordance with an approved form at a Registry the name, address and designa tion of the owner of stock and the amount of stock owned by him.
(2) No stock shall be inscribed in the names of more than 4 persons.
(3) Stock shall not be inscribed in the name of a person under the age of
18 years.
8. No notice of any trust express, implied or constructive shall be received by the Authority or entered in the Stock Ledger or other records kept by the Authority.
9. Stock shall not be inscribed in the names of executors, administrators or
trustees as such but in their individual names without reference to trusteeship.
10. (1) Where an owner of stock changes his name, address or designation,
the Authority shall, on application by the owner of stock in accordance with an
approved form lodged at the Registry at which the stock is inscribed, record the
| Registry less than 14 days before a payment of interest is due, the Authority may | change in the Stock Ledger. (2) Where an application referred to in sub-regulation (1) is received by a |
decline to record the change specified in the application until after payment of
that interest. |
| 11. The Authority shall keep Sales and Transfers Registers in accordance with an approved form in which shall be entered particulars of sales of stock to original purchasers, transmissions of stock, transfers of stock, transfers of stock from one Registry to another, stock redeemed, stock converted and any other trans action in respect of stock. |
| 12. (1) A person to whom stock is transmitted may apply to be inscribed as the owner of the stock. |
| (2) An application under sub-regulation (1) shall be made in accordance with an approved form lodged at the Registry at which the stock is inscribed and shall be execuied by the applicant. |
| ( 3 ) | E a c h s ignature on an app l i ca t ion referred to in sub-regu la t ion | ( 2 ) | shall | be |
| verif ied | in | a | m a n n e r | a p p r o v e d | b y | the | A u t h o r i t y . |
| ( 4 ) | In | the | c a s e | of | a t r a n s m i s s i o n | c o n s e q u e n t | o n | d e a t h , | the | probate | of | the | wi l l , |
| letters | o f | admin i s t ra t ion , | or | o t h e r | i n s t r u m e n t | that | is | e v i d e n c e | that | a | p e r s o n | is |
| ent i t l ed | t o | the | es tate | o f | a | d e c e a s e d | p e r s o n , | or | is | a u t h o r i z e d | t o | a d m i n i s t e r | the | es tate |
| o f | a | d e c e a s e d | p e r s o n , | shall | b e | l o d g e d | at | the | Reg i s try | at | w h i c h | the | s tock | is |
inscr ibed .
| ( 5 ) | In | the | case | of | a | t r a n s m i s s i o n | c o n s e q u e n t | o n | b a n k r u p t c y , | an | office | c o p y |
| o f | the | a d j u d i c a t i o n | or | order | of | s e q u e s t r a t i o n | shall | be | l o d g e d | at | the | Reg i s try | at |
| w h i c h | the | s t o c k | is | inscr ibed . |
| ( 6 ) t r a n s m i s s i o n | A | t r a n s m i s s i o n | of | s tock | shall | b e effected | by en ter ing a record | o f | the |
| in | the | S t o c k | L e d g e r | and | by | inscr ib ing | in | the | S t o c k | L e d g e r | as | o w n e r |
| of the s tock the n a m e o f the person to w h o m | the s tock has b e e n | t ransmi t t ed . |
| 13. (1) T h e | person | w h o s e | n a m e | is inscr ibed | in | the S t o c k | L e d g e r | as | the |
| o w n e r | of | s tock | m a y | d i s p o s e | of | and | transfer | s tock | in the | m a n n e r | p r o v i d e d | by | these |
| R e g u l a t i o n s | a n d | m a y | g ive | effectual | rece ipts | for | m o n e y | pa id | t o | h i m | b y | w a y | of |
| c o n s i d e r a t i o n | for | s tock . |
| ( 2 ) | T h e | o w n e r | of | s t o c k | shall | no t | transfer | s tock | h a v i n g | a f a c e | v a l u e | that | is |
| less than $ 1 0 0 or is not a mul t ip l e of | $ 1 0 0 . |
| 14. (1) | S t o c k | m a y | be | transferred | w i t h i n | a | Reg i s try | f r o m | o n e | p e r s o n | to |
| a n o t h e r | b y | a n | i n s t r u m e n t | o f | transfer | and | a c c e p t a n c e , | in | a c c o r d a n c e | w i t h | an |
| a p p r o v e d | f o r m , | e x e c u t e d | by | both | parties | and | l o d g e d | at | the | Reg i s try . |
| (2) | E a c h | s ignature | o n | an | i n s t r u m e n t | under | s u b - r e g u l a t i o n | (1 ) | shal l | be |
| verified | in a | m a n n e r | a p p r o v e d | by | the | A u t h o r i t y . |
| ( 3 ) | A | transfer | of | s tock | u n d e r | s u b - r e g u l a t i o n | ( 1 ) | shall | be | e f f e c t e d — |
| (a) | b y | c a n c e l l i n g | t h e inscr ip t ion | of | the | s tock | in t h e | n a m e | of | the | transferor |
| i n | t h e | S t o c k | L e d g e r ; | and |
| (b) | by inscribing the stock in the name of the transferee in the Stock |
L e d g e r .
| 15. | (1) | T h e | o w n e r | o f | s tock | m a y , | b y | an | i n s t r u m e n t | o f | transfer | a n d | a c c e p t |
| a n c e , | in | a c c o r d a n c e | wi th | an | a p p r o v e d | f o r m , | e x e c u t e d | b y | b o t h | part ies | and | l o d g e d |
| at the R e g i s t r y at w h i c h the s tock | is inscr ibed , transfer s tock | to the n a m e | of |
| a n o t h e r | p e r s o n | in | the | S t o c k | Ledger | at | a n o t h e r | Regis try . |
| ( 2 ) | E a c h s ignature o n an ins trument referred t o in sub-regu la t ion | ( 1 ) | shall be |
| verified | in | a | m a n n e r | a p p r o v e d | b y | the | A u t h o r i t y . |
| ( 3 ) | A | transfer | o f | s t o c k | u n d e r | s u b - r e g u l a t i o n | ( 1 ) | shall | b e | e f f e c t e d — |
| ( a ) | b y | c a n c e l l i n g | t h e | inscr ip t ion | o f | the | s t o c k | in | the | n a m e | of | the | trans |
| f e r o r | in | the | S t o c k | L e d g e r | at | the | Reg i s try | first-mentioned | in | s u b - |
| regu la t ion | ( 1 ) ; | and |
| ( b ) | b y inscr ib ing the s tock in the n a m e of the t rans feree in t h e S tock |
| L e d g e r | at | t h e | o t h e r | Reg i s try | referred | t o | in | sub-regu la t ion | ( 1 ) . | |
| 16. (1) S tock | inscr ibed in a S t o c k L e d g e r at a Reg i s try in the n a m e of a |
| p e r s o n m a y | b e | inscr ibed | in | a S t o c k | L e d g e r | at | a n o t h e r | Reg i s t ry | in the | n a m e | of | that |
| p e r s o n | o n | a p p l i c a t i o n | by | the | p e r s o n | in | a c c o r d a n c e | w i t h | an | a p p r o v e d | f o r m | l o d g e d |
| at the | f i r s t -ment ioned | Reg i s try . |
(2) Where stock is inscribed in the Stock Ledger at another Registry under sub-regulation (1) , the inscription of the stock in the Stock Ledger at the Registry first- mentioned in sub-regulation (1) shall be cancelled.
17. (1) The Authority shall, on application by an owner of stock in accordance with an approved form lodged at the Registry at which the stock is inscribed, mark a transfer of stock, being a transfer that has been properly executed by the transferor, with words that are substantially in accordance with the following form: "Stock for (insert face value of stock proposed to be transferred) Dollars held against this transfer for a period of 42 days from and including (insert date of marking).".
(2) Where the Authority has marked a transfer in accordance with sub- regulation (1) , the Authority shall not give effect to any dealing in stock to which the transfer relates during the period of 42 days from and including the date of marking except in pu-suance of the marked transfer.
18. Where stock is inscribed, or is proposed to be inscribed, in the name of a body corporate, the Authority may require the body corporate to lodge at the Registry at which the stock is inscribed, or is proposed to be inscribed, as the case may be, evidence that each instrument required to be executed in respect of the stock by or on behalf of the body corporate has been executed in a manner that is effectual in law and binds the body corporate.
19. A person whose name is inscribed, or is proposed to be inscribed, in relation to stock, shall lodge at the Registry at which the stock is inscribed a specimen of his signature and shall verify the signature in a manner approved by the Authority.
20. (1) The Authority shall, upon application in accordance with an approved form lodged at the Registry at which the stock is inscribed, issue to the owner of stock a certificate, in an approved form, of his proprietorship of the stock on the date specified in the certificate.
(2) The want of a certificate referred to in sub-regulation (1) shall not prevent the owner of the stock from disposing of the stock.
| (3) The Authority shall keep a record of each certificate issued under sub- regulation (1). 21. A transaction relating to stock shall not, without the consent of the | Authority, be registered or dealt with within 14 days prior to the date upon which |
| interest is due or within one month prior to the date of maturity of the stock. |
| P A R T | I V — P A Y M E N T | O F | I N T E R E S T |
22. (1) Where stock is inscribed in the name of one person, interest on the stock may be paid—
| (a) | in the manner set out in the prospectus inviting applications to purchase stock; |
| (b) | by cheque, payable to that person, sent by post to that person to his address shown on the Stock Ledger; or |
| (c) | in a manner approved by the Authority on application by the person in accordance with an approved form lodged at the Registry at which the stock is inscribed. |
| ( 2 ) o n the s t o c k m a y | W h e r e | s t o c k | i s inscr ibed | in | the | n a m e | o f | m o r e | than | o n e | p e r s o n , | interest |
| ( a ) | in | the | m a n n e r | set | o u t | in | the | p r o s p e c t u s | i n v i t i n g | a p p l i c a t i o n s | t o | pur |
| ( b ) | b y | c h e q u e , | p a y a b l e | t o | the | p e r s o n | w h o s e | n a m e | is first | inscr ibed | in | t h e |
| S t o c k | L e d g e r in respec t o f that s tock , | sent b y pos t to the | last- |
| m e n t i o n e d | person | t o | his address | s h o w n | o n | the | S t o c k | L e d g e r ; | o r |
| ( c ) | i n | a | m a n n e r | a p p r o v e d | b y | the | A u t h o r i t y | o n | a p p l i c a t i o n | b y | the | last - |
| m e n t i o n e d | p e r s o n | in | a c c o r d a n c e | w i t h | an | a p p r o v e d | f o r m | l o d g e d | at | the |
| R e g i s t r y | at w h i c h | the s tock | is | inscr ibed . |
| ( 3 ) val id rece ip t for | A n y | o n e | o f | the | p e r s o n s | in w h o s e | n a m e s | s t o c k | is | inscr ibed | m a y | g ive | a |
interest .
| 23. | Interest o n s t o c k shall | c e a s e o n the d a t e o f | m a t u r i t y | of the | s tock . |
| P A R T | V — R E D E M P T I O N | O F | S T O C K |
| 24. | (1) | S tock | shal l | b e | r e d e e m a b l e | by | p a y m e n t | in | a c c o r d a n c e | w i t h | the | p r o |
| v i s i o n s | of | the | p r o s p e c t u s | inv i t ing | app l i ca t ions | t o | p u r c h a s e | s tock . |
| ( 2 ) | S t o c k | inscr ibed | in | the | n a m e | o f | o n e | p e r s o n | m a y | b e | r e d e e m e d | u n d e r | s u b - |
| regu la t ion | ( 1 ) | b y | p a y m e n t — |
| ( a ) | b y | c h e q u e , | payab le | to | the | p e r s o n , | s ent | b y | p o s t | t o | the | p e r s o n | t o | his |
| address s h o w n o n the | Stock | L e d g e r ; | or |
| ( b ) | in | a m a n n e r | a p p r o v e d | b y | the | A u t h o r i t y | o n | app l i ca t ion | by | that | p e r s o n |
| i n | a c c o r d a n c e | w i t h | an | a p p r o v e d | f o r m | l o d g e d | at | the | R e g i s t r y | at | w h i c h |
| the | s t o c k | is | inscr ibed . |
| ( 3 ) | S t o c k | inscr ibed | in the | n a m e | of | m o r e | than | o n e | p e r s o n | m a y | b e | r e d e e m e d |
| u n d e r | s u b - r e g u l a t i o n | ( 1 ) | by | p a y m e n t — |
| ( a ) | b y | c h e q u e , | p a y a b l e | to | the | p e r s o n | w h o s e | n a m e | is | first | inscr ibed | in | the |
| S t o c k L e d g e r in respect o f that s tock , sent b y pos t t o the | last- |
| m e n t i o n e d | p e r s o n | to | his | address | s h o w n | o n | the | S t o c k | L e d g e r ; | or |
| ( b ) | in | a | m a n n e r | a p p r o v e d | by | the | A u t h o r i t y | on | a p p l i c a t i o n | b y | the | last- |
| m e n t i o n e d | person | in | a c c o r d a n c e | wi th | an | a p p r o v e d | f o r m | l o d g e d | at | the |
| R e g i s t r y | at w h i c h | the | s t o c k | is | inscr ibed . |
| ( 4 ) | A n y | o n e | of | the p e r s o n s | in w h o s e | n a m e s | s tock | is inscr ibed | m a y | g ive | a |
| val id | rece ip t | for | a p a y m e n t | in r e d e m p t i o n | of | s tock . |