COMMONWEALTH
INSCRIBED STOCK.
No. 21 of 1946.
An
Act to amend the Commonwealth Inscribed
Stock Act 1911–1945.
[Assented to 1st August, 1946.]
[Date
of commencement, 29th August, 1946.]
BE it enacted by the King’s Most Excellent
Majesty, the Senate, and the House of Representatives of the Commonwealth of
Australia, as follows:—
Short
title and citation.
1.—(1.) This Act may be cited as the Commonwealth Inscribed Stock Act 1946.
(2.) The Commonwealth
Inscribed Stock Act 1911–1945 is in this Act referred to as the Principal
Act.
(3.) The Principal Act, as amended by this Act, may
be cited as the Commonwealth Inscribed
Stock Act 1911–1946.
Liability
of interest to income tax.
2.Section
fifty-two bof the Principal Act is amended by inserting in sub-section
(3.), after the word “Certificates”, the words “or Savings Certificates”.
War
Savings Stamps.
3.Section
fifty-seven of the Principal Act is amended by inserting at the end of
sub-section (2.) the words “or Savings Certificates.”.
4.After
section fifty-seven of the Principal Act the following sections are inserted:—
Savings
Stamps.
“57aa.—(1.) Stamps (to be known as Savings Stamps) may be
made and sold in such denominations as the Treasurer determines.
“(2.) Savings Stamps may be accepted at their face
value in payment for Treasury Bonds known as War Savings Certificates or
Savings Certificates.
Conversion
of War Savings Certificates and Savings Certificates.
“57ab. War
Savings Certificates may be exchanged for Savings Certificates and Savings
Certificates may be exchanged for War Savings Certificates.”.
Application
of certain provisions of Treasury Bills Act to Stamps.
5. Section fifty-seven b