Commonwealth Inscribed Stock Regulations (Amendment) (Cth)
STATUTORY RULES.
AMENDMENT OF THE REGULATIONS UNDER THE COMMONWEALTH INSCRIBED STOCK ACT 1911-1915.
I,
SIR ARTHUR STANLEY, Governor of the State of Victoria and its Dependencies,
acting as the Deputy of the Governor-General, acting with the advice of the
Federal Executive Council, hereby make the following amendments of the
Regulations under the
Dated this sixth day of June, One thousand nine hundred and seventeen.
A. L. STANLEY,
Deputy of the Governor-General.
By His Excellency’s Command,
JOHN FORREST,
Treasurer.
Regulation No. 52 to be amended by inserting after the words “in whose name stock is inscribed’’ the words “Stock shall not, however, be inscribed in exchange for Treasury Bonds prepared in accordance with Form 32a.”
The following new Regulations to be inserted after Regulation No. 55:—
55a. Treasury Bonds shall also be prepared in accordance with Form 32a.
55b. Treasury Bonds prepared in accordance with Form 32a may be accepted in payment of estate duty payable under any law of the Commonwealth. For this purpose the value of such a Treasury Bond shall be taken as the amount paid to the Commonwealth when the Treasury Bond was purchased, with simple interest added at the rate of 4½ per centum per annum calculated from the time when the Treasury Bond was purchased up to the date of the surrender, in payment of such duty, of the Treasury Bond.
55c. Stamps may be made and sold indicating such amounts as may be directed by the Governor-General and such Stamps may be accepted at their face value in payment for Treasury Bonds prepared in accordance with Form 32a.
Form
32
Commonwealth of Australia.
WAR SAVINGS CERTIFICATE.
£..................
Transferable by delivery.
No..............
Issued under the
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 THREE 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.
Form 32a.
WAR SAVINGS CERTIFICATES.
War Savings Certificates are payable on the date which is exactly three years after the date of purchase. The amount payable on maturity includes the amount paid for the Certificate and compound interest at the rate of 4½ per cent. per annum. No further payment by way of interest will be made other than that included in the face value of the Certificate.
War Savings Certificates are transferable by delivery and payable to bearer.
The principal sum and the interest secured by the Certificate will be free from Stamp Duty and from Wealth Levy under any law of the Commonwealth or a State and the interest will be free of Commonwealth and State Income Tax.
War Savings Certificates will be accepted in payment of Probate and Succession Duty due to the Commonwealth. For this purpose the value of a Certificate will be taken as the amount paid to the Commonwealth when the War Savings Certificate was purchased, with simple interest added at the rate of 4½ per cent. per annum, calculated from the time when the War Savings Certificate was purchased up to the date of the surrender, in payment of such duty, of the War Savings Certificate.
The amount paid for the Certificate will be repaid at any time within the period of three years if sufficient reason be given for the withdrawal of the money. In the event of repayment within the period of three years, simple interest at the rate of 3 per cent. per annum will be paid for the term for which the money has been left on deposit.
No person shall be entitled to purchase War Savings Certificates of a greater nominal value than £1,000.
Printed and Published for the Government of the Commonwealth of Australia by Albert J. Mullett, Government Printer for the State of Victoria.
C.6179.—Price 3d.
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