Commonwealth Inscribed Stock Regulations (Amendment) (Cth)

Statutory Rules 1986 No. 2421

Commonwealth Inscribed Stock Regulations2

(Amendment)

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

Dated 8 September 1986.

N. M. STEPHEN

Governor-General

By His Excellency's Command,

C. J. Hurford

Minister of State for Immigration and

Ethnic Affairs for and on behalf of the

Treasurer

Principal Regulations

1. In these Regulations, "Principal Regulations" means the Commonwealth Inscribed Stock Regulations.

Interpretation

2. Regulation 4 of the Principal Regulations is amended by inserting after the definition of "security" the following definition:

"stock ledger" means a Stock Ledger at a Registry as referred to in section 15 of the Act;".

Repeal of regulation 9

3. Regulation 9 of the Principal Regulations is repealed.

4. Regulation 10 of the Principal Regulations is repealed and the following regulation substituted:

Entries in stock ledger

"10. (1) There shall be entered in the stock ledger in relation to all stock issued under the Act—

(a) the name and description of each owner of the stock;

(S.R. 148/86) Cat. No.  10/3.6.1986

 

(b) an address to which certificates, receipts, other documents and moneys relating to the stock are to be forwarded; and

(c) the usual residential address of the owner or, in the case of a joint account, of the owner whose name is first inscribed in the stock ledger.

"(2) Where an address referred to in paragraph (1) (b) or (c) is changed, notice of the change shall be given in writing to the Registrar by—

(a) in the case of a joint account—the owner of the stock whose name is first inscribed in the stock ledger; or

(b) in any other case—the owner of the stock in relation to which the address is entered.

"(3) Upon receipt of the notice given under sub-regulation (2), the Registrar shall record the change of address in the stock ledger.".

Repeal of regulation 17

5. Regulation 17 of the Principal Regulations is repealed.

Repeal of regulation 21

6. Regulation 21 of the Principal Regulations is repealed.

Notification of inscription of stock, &c.

7. Regulation 22 of the Principal Regulations is amended by omitting sub-regulation (1) and substituting the following sub-regulation:

"(1) Upon inscribing stock or cancelling the inscription of stock in the name of a person, a Registrar shall, unless the person signifies in writing that he or she does not require such notification, notify the person accordingly in writing.".

Form of certificate of proprietorship of stock

8. Regulation 22a of the Principal Regulations is amended by omitting sub-regulation (1).

Transfers of stock from one Registry to another

9. Regulation 24 of the Principal Regulations is amended by omitting paragraph (2) (b) and substituting the following paragraph:

"(b) shall, unless the applicant signifies in writing that he or she does not require such notification, notify the applicant accordingly in writing.".

Exhibition of probates, &c.

10. Regulation 27 of the Principal Regulations is amended by omitting sub-regulation (2) and substituting the following sub-regulation:

"(2) Particulars of a document exhibited at the Registry in accordance with sub-regulation (1) shall be entered in a register kept for that purpose.".

Transmission applications

11. Regulation 28 of the Principal Regulations is amended by omitting sub-regulation (2) and substituting the following sub-regulation:

"(2) Where, upon an application pursuant to sub-regulation (1), a transmission is registered, the Registrar shall, as soon as practicable, inform the applicant by notice in writing accordingly.".

Marked transfers

12. Regulation 31 of the Principal Regulations is amended—

(a) by omitting sub-regulation (1) and substituting the following sub-regulation:

"(1) The Registrar may mark a transfer of stock which has been properly executed by the transferor with words to the effect that stock is held against the transfer for a period specified in the marking."; and

(b) by omitting from sub-regulation (2) "of fourteen days following" and substituting "specified in".

Repeal of regulation 56

13. Regulation 56 of the Principal Regulations is repealed.

Schedule

14. The Schedule to the Principal Regulations is amended by omitting Forms 2, 3, 4, 5, 6, 6a, 8, 9, 11, 12, 13, 14, 18, 19, 20, 21, 23, 25, 36, 37, 40 and 41.

Further amendments

15. The Principal Regulations are further amended as set out in the Schedule to these Regulations.

SCHEDULERegulation 15

FURTHER AMENDMENTS OF PRINCIPAL REGULATIONS

1. The following provisions of the Principal Regulations are amended by omitting "Stock Ledger" (wherever occurring) and substituting "stock ledger":

Sub-regulations 7 (3) and 18 (1), regulation 20, sub-regulations 22 (2) and 23 (5), paragraph 24 (2) (a), regulations 24a, 25 and 32.

2. The Principal Regulations are amended as set out in the following table:

Provision	Omit—	Substitute—
Regulation 8	"accordance with Form 2"	"writing"
Sub-regulation 14 (1)	"accordance with Form 6"	"writing"
Sub-regulation 14 (2)	"accordance with Form 6a"	"writing"
Sub-regulation 16 (2)	"Form 8"	"an approved form"
Sub-regulation 16 (3)	(a) "Form 8"	"the form approved under sub-regulation (2)"
(b) "that Form"	"that form"
Regulation 20	"application in accordance with Form 11"	"request made in writing to the Registrar"
Sub-regulation 22a (2)	"Form 14"	"an approved form"
Sub-regulation 24 (1)	"Form 18"	"an approved form"
Paragraph 24 (2) (a)	"in accordance with an approved from"	"by writing"
Sub-regulation 24a (1)	"Form 19"	"an approved form"
Sub-regulation 24a (2)	"the last preceding sub-regulation shall, in accordance with an approved from	"sub-regulation (1) shall, by writing"
Sub-regulation 24a (3)	"Form 20"	"an approved form"
Sub-regulation 24a (4)	"of this regulation shall, in accordance with an approved form"	"shall, by writing"
Regulation 33	(a) "accordance with Form 25"	"writing"
(b) "request, a specimen of whose signature shall be supplied to the Registrar"	"request"
Sub-regulation 49a (3)	"accordance with an	"writing"
Regulation 49b	"Form 36"	"an approved form"
Sub-regulation 50 (1)	"Form 37"	"an approved form"
Sub-regulation 50 (2)	"accordance with an approved form"	"writing"
Sub-regulation 55 (1)	"Form 40"	"an approved form"
Sub-regulation 55 (2)	(a) "Form 40"	"the form approved under sub-regulation (1)"
(b) "that Form"	"that form"
Regulation 57	"Register in accordance with Form 21"	"register kept in accordance with sub-regulation 27 (2)"
Sub-regulation 58 (2)	"in accordance with Form 41"	"in writing of intention to act under sub-regulation (1)"
Regulation 64	"in accordance with Form 41"	"in writing of intention to give effect to the transaction"

NOTES

1. Notified in the Commonwealth of Australia Gazette on 11 September 1986.

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 Nos. 175.

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