Commonwealth Inscribed Stock Regulations (Amendment) (Cth)

Statutory Rules 1995

No. 291 1

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Commonwealth Inscribed Stock Regulations 2(Amendment)

I, The Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the Commonwealth Inscribed Stock Act 1911.

Dated 3 October 1995.

 BILL HAYDEN

 Governor-General

By His Excellency’s Command,

RALPH WILLIS

Treasurer

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1.   Amendment

1.1   The Commonwealth Inscribed Stock Regulations are amended as set out in these Regulations.

[NOTE: These Regulations commence on gazettal: see Acts Interpretation Act 1901, s. 48.]

2.   Regulation 4 (Interpretation)

2.1   Definition of “the Act”:

Omit “1911–1963;”, substitute “1911;”.

3.   Regulation 19 (Specimen signatures)

3.1   Omit the regulation, substitute:

Specimen signatures

“19.

(1) The Registrar must obtain a specimen signature for each stock owner.

“(2)

The Registrar may require:

• (a)

  a document to be signed before an officer of a Registry; or

• (b)

  a signature to be witnessed.”.

4.   Regulation 22 (Notification of inscription of stock, etc.)

4.1   Subregulation 22 (3):

Omit “stock or the transfer of stock under regulation 24 of these Regulations.”, substitute “stock.”.

5.   Regulation 23 (Transfers of stock within a Registry)

5.1   Subregulations 23 (2) and 23 (3):

Omit the subregulations.

6.   Regulation 24 (Transfer of stock to another Registry without change of ownership)

6.1   Omit the regulation.

7.   Regulation 24A (Transfer of stock to another Registry with change of ownership)

7.1   Omit the regulation.

8.   Regulation 24B (Dealings by joint owners)

8.1   Subparagraph 24B (1) (b) (ii):

Omit “regulation 23 or 24;”, substitute “regulation 23;”.

8.2   Subparagraph 24B (1) (b) (iii):

Omit the subparagraph.

9.   Regulation 27 (Exhibition of probates, etc.)

9.1   Subregulation 27 (2):

Omit the subregulation.

10.   Regulation 32 (Payment of interest)

10.1   Subregulation 32 (4):

Omit the subregulation, substitute:

“(4)

If the Registrar receives a request referred to in subregulation (1) or (2) less than 7 clear days before the day on which the next interest is due for payment, the Registrar need not comply with the request until after the interest is paid.”.

11.   Regulation 36 (Change of address)

11.1   Subregulation 36 (2):

Omit the subregulation, substitute:

“(2)

If the Registrar receives a notification less than 7 clear days before the day on which the next interest is due for payment, the Registrar need not act on the notification until after the interest is paid.”.

12.   Regulation 40 (Redemption of interminable stock)

12.1   Omit the regulation, substitute:

Redemption of interminable stock

“40.

If stock has been made interminable, the Treasurer, or a person appointed for the purpose by the Treasurer, must give to the holder of the stock 7 clear days’ notice in writing of its redemption.”.

13.   Regulation 41 (Issue of bearer securities in exchange for stock)

13.1   Subregulation 41 (4):

Omit the subregulation.

14.   Regulation 47 (Certain provisions of Treasury Bills Act not to apply to Treasury Bonds, Debentures and prescribed securities)

14.1   Subregulation 47 (1):

Omit “1914–1915”, substitute “1914”.

[NOTE:

 The Commonwealth Inscribed Stock Regulations reprinted as at 30 October 1987 (Reprint No. 2) contain an error in subregulation 47 (1). The reference in that subregulation to the Treasury Bills Act 1914-15 should be a reference to the Treasury Bills Act 1914-1915.]

15. Regulation 49 (Application of Treasury Bills Act to Treasury Notes)

15.1   Omit “1914–1940”, substitute “1914”.

16.   Regulation 49B (Exchange of bearer securities)

16.1   Omit “at that Registry”, substitute “at a Registry”.

17.   Regulation 57 (Powers of attorney to be left for notation)

17.1   Omit the regulation, substitute:

Power of attorney to be left for notation

“57.

(1) A power of attorney must be left at a Registry for notation at least 2 clear days before it is to be acted upon.

“(2)

The Registrar must make, and keep, a copy of a power of attorney that is left at a Registry for notation.”.

18.   Regulation 66 (Replacement of defaced bearer securities)

18.1   Subregulation 66 (1):

Omit “1914–1940”, substitute “1914”.

19.   Regulation 66A (Destruction of bearer securities)

19.1   Subregulation 66A (1):

Omit “1914–1940”, substitute “1914”.

20.   Regulation 69 (General Register of Treasury Bonds)

20.1   Omit “The Secretary”, substitute “The Registrar”.

NOTES

1. Notified in the Commonwealth of Australia Gazette on 10 October 1995.

2. Statutory Rules 1944 No. 186 as amended by 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; 1976 Nos. 64 and 144; 1980 No. 19; 1983 Nos. 71 and 157; 1984 Nos. 121, 122, 165 and 166; 1985 No. 175; 1986 Nos. 242, 243, 244, 245 and 164; 1989 No. 228.