Commonwealth Inscribed Stock Regulations (Amendment) (Cth)

STATUTORY RULES.

1919. No. 97.

 

REGULATIONS UNDER THE COMMONWEALTH INSCRIBED STOCK ACT 1911–1918.

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Commonwealth Inscribed Stock Act 1911–1918, to come into operation forthwith.

Dated this twenty-third day of April, 1919.

R. M. FERGUSON,

Governor-General.

By His Excellency’s Command.

W. A. WATT,

Treasurer.

 

Amendment of Commonwealth Inscribed Stock Regulations.

(Statutory Rules 1917, No. 36, as amended by Statutory Rules 1917, No. 122.)

1. Regulation 52 of the Commonwealth Inscribed Stock Regulations is amended by adding at the end thereof the following words:—

“Or Form 32b or Form 32c.”

2. Regulations 55a, 55b and 55c of the Commonwealth Inscribed Stock Regulations are repealed.

3. After regulation 55 of the Commonwealth Inscribed Stock Regulations the following regulations are inserted:—

“55a. Treasury Bonds, to be known as War Savings Certificates, may be prepared in accordance with Form 32a, Form 32b, and Form 32c.”

“55b.—(1.) War Savings Certificates may be accepted in payment of Estate Duty under any law of the Commonwealth.

(2) For the purposes of this regulation the value of a War Savings Certificate before the due date for payment shall in the case of Certificates prepared in accordance with Form 32a be the amount paid to the Commonwealth when the Certificate was purchased with simple interest added at the rate of 4½ per centum per annum calculated from the time when the Certificate was purchased to the date of the surrender of the Certificate in payment of estate duty.

“(3) For the purposes of this regulation the value of a War Savings Certificate before the due date of payment shall in the case of Certificates prepared in accordance with Form 32b or Form 32c be the amount at which the Certificate may be cashed on the date of payment of such duty.”

 

“55c.—(1.) War Savings Stamps may be made and sold indicating such amounts as may be directed by the Governor-General.

“(2) War Savings Stamps may be accepted at their face value in payment for War Savings Certificates.”

4. Regulation 57 of the Commonwealth Inscribed Stock Regulations is amended by adding after the word “bonds” (where it first occurs) the words “(other than War Savings Certificates).”

5. After Form 32a of the Commonwealth Inscribed Stock Regulations the following forms are inserted:—

“Form 32b.

Regulation 55a.

FIVE YEARS CERTIFICATE—PURCHASE PRICE.

Full face value is payable on 192 (being five years after dale of purchase).

Commonwealth or Australia.

£

WAR SAVINGS CERTIFICATE.

Transferable by Delivery.

Issued under the Commonwealth Inscribed Stock Act 1911-1918 and secured on the Consolidated Revenue of the Commonwealth of Australia.

This Certificate entitles the Bearer to the payment at one of the offices of the Commonwealth Bank of Australia at Sydney, Melbourne, Brisbane, Adelaide, Perth or Hobart, of Pound Sterling five years after the day of One thousand nine hundred and (date of purchase).

Secretary to the Treasury.

Registered at the Audit Office, Melbourne.

Auditor-General.

Issued by...........................................  Issued at.......................................................

(Signature). (Name of place).

 

“Form 32b.

(Back of Form).

The interest on Certificates will be free of Commonwealth and State Income Tax.

Certificates will be free of Commonwealth and State Stamp Duty.

A Five Years Certificate entitles the holder to receive £1 for each 15s. 6d. on the fifth anniversary of the date of purchase.

A Five Years Certificate may be cashed at any time for the following amounts:—

Within one year from the date of purchase—at the purchase price.

On or after the first anniversary of the date of purchase—16s.

For each 15s. 6d. For each additional month the cash value will increase by 1d. for each 15s. 6d.

£1 and £5 Certificates may be cashed at the above amounts at any Bank or State Savings Bank. Certificates of all denominations may be cashed at the above amounts at any Branch of the Commonwealth Bank of Australia.

No person may purchase or own more than 1,000 £1 Certificates or their equivalent.

Certificates are transferable by delivery and payable to Bearer.

Certificates will be accepted in payment of Probate and Succession Duty due to the Commonwealth at the prices at which the Certificates may be cashed on the date of payment of such duty.”

“Form 32c.

Regulation 55a.

TEN YEARS CERTIFICATE —PURCHASE PRICE.

Full face value is payable on 19 (being ten years after date of purchase).

Commonwealth of Australia.

£

WAR SAVINGS CERTIFICATE.

Transferable by Delivery.

Issued under the Commonwealth Inscribed Stock Act 1911-1918 and secured on the Consolidated Revenue of the Commonwealth of Australia.

This Certificate entitles the Bearer to the payment at one of the offices of the Commonwealth Bank of Australia at Sydney, Melbourne, Brisbane, Adelaide, Perth or Hobart of Pound Sterling ten years after the day of One thousand nine hundred and (date of purchase).

Secretary to the Treasury.

Registered at the Audit Office, Melbourne.

Auditor-General.

Issued by...........................................  Issued at.......................................................

(Signature). (Name of place).

 

“Form 32c.

(Back of Form).

The interest on Certificates will be free of Commonwealth and State Income Tax.

Certificates will be free of Commonwealth and Stamp State Duty.

A Ten Years Certificate entitles the holder to receive £1 for each 12s. on the tenth anniversary of the date of purchase.

A Ten Years Certificate may be cashed at any time for the following amounts:—

Within one year from the date of purchase—at the purchase price.

On or after the first anniversary of the date of purchase—12s. 3d. for each 12s.

For each additional period of two months up to 3½ years from the date of purchase the cash value will increase by 1d. for each 12s.

For each additional month thereafter the cash value will increase by 1d. for each 12s.

£1 and £5 Certificates may be cashed at the above amounts at any Bank or State Savings Bank. Certificates of all denominations may be cashed at the above amounts at any Branch of the Commonwealth Bank of Australia.

No person may purchase or own more than 1,000 £1 Certificates or their equivalent.

Certificates are transferable by delivery and payable to Bearer.

Certificates will be accepted in payment of Probate and Succession Duty due to the Commonwealth at the prices at which the Certificates may be cashed on the date of payment of such duty.”

 

Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.