Defence Preparations (Capital Issues) Regulations (Amendment) (Cth)

STATUTORY RULES.

1952. No. 66.

 

REGULATIONS UNDER THE DEFENCE PREPARATIONS ACT 1951.*

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 Defence Preparations Act 1951.

Dated this thirteenth day of August, 1952.

W. J. McKELL

Governor-General.

By His Excellency’s Command,

For and on behalf of Prime Minister.

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AMENDMENTS OF THE DEFENCE PREPARATIONS (CAPITAL ISSUES) REGULATIONS. 

Provisions with respect to deposits.

1. Regulations 8 and 9 of the Defence Preparations (Capital Issues) Regulations are repealed and the following regulation inserted in their stead:—

“8. A company (other than a bank, a declared pastoral company, a building society, or a co-operative society) shall not, without the consent of the Treasurer, accept or receive a deposit—

(a)if the amount borrowed and not repaid under deposits accepted or received by that company (including the deposit then accepted or received) during the preceding year exceeds Five thousand pounds; or

(b) if the sum of—

(i) the amount borrowed and not repaid under deposits accepted or received by that company (including the deposit then accepted or received) during the preceding two years;

(ii) the amount of authorized capital issued by the company during that period; and

(iii) the amount borrowed and not repaid under a security issued or given by the company during that period (not being a security referred to in sub-regulation (3.) of regulation 13 of these Regulations),

exceeds Ten thousand pounds.”.

 

* Notified in the Commonwealth Gazette on , 1952.

  Statutory Rules 1951, No. 84.

3189.—Price 3D. 10/28.7.1952.

 

Certain loans not affected.

2. Regulation 13 of the Defence Preparations (Capital Issues) Regulations is amended by omitting from paragraph (c) of sub-regulation (2.) the words “Four pounds ten shillings” and inserting in their stead the words “Five pounds”.

 

By Authority: L. F. JOHNSTON, Commonwealth Government Printer, Canberra.