Commonwealth Inscribed Stock Regulations (Amendment) (Cth)

Statutory Rules

1976 No. 144

REGULATION UNDER THE COMMONWEALTH INSCRIBED STOCK ACT 1911.*

I, THE GOVERNOR-GENERAL of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the Commonwealth Inscribed Stock Act 1911.

Dated this eighth day of July, 1976.

JOHN R. KERR

Governor-General.

By His Excellency’s Command,

PHILLIP LYNCH

Treasurer.

––––––

Amendment of the Commonwealth Inscribed Stock Regulations 

Regulation 66b of the Commonwealth Inscribed Stock Regulations is repealed and the following regulation substituted:—

Securities that may be accepted in payment of estate duty.

“ 66b. Australian Savings Bonds—Series 1, 2 and 3, and any securities that are issued on terms and conditions that include a term or condition that the security is acceptable in payment of estate duty under the Estate Duty Act 1914 at a value to be determined in the manner set out in the term or condition, are prescribed securities that may be accepted under section 52c of the Act in payment of estate duty payable under the Estate Duty Act 1914—

(a) in the case of Australian Savings Bonds—Series 1, 2 and 3—

(i) where securities are presented in payment of estate duty before the first interest payment date—at face value; or

(ii) where securities are presented in payment of estate duty on or after the first interest payment date—at a value being the total of the face value and the accrued interest; and

(b) in the case of the other securities referred to in this regulation—at a value determined in the manner referred to in this regulation.”.

 

* Notified in the Australian Government Gazette on 13 July 1976.

  Statutory Rules 1944, No. 186, as amended by Statutory Rules 1946, No. 75; 1947, No. 96; 1952, No. 26; 1959, Nos. 8, 39 and 96; 1961, No. 86; 1962, No. 57; 1963, No. 84; 1964, No. 19; 1966, No. 61; 1971, No. 144; 1974, No. 69; and 1976, No. 64.