Inscription of Stock Act 1895 (SA)

ANNO QUINQUAGESIMO OCTAVO ET QUINQUA-

GESIMO NON0

I A.D. 1895.

No. 619.

An Act to amend the " Inscribed Stock Act, 1882," and

" The Public Purposes Loan Act, 1892.''

[Assented to, October 2 2 ~ 4 1895. ]

it Enacted by the Governor of the Province of South Aus-

and House of Assembly of the said province, in this present Parlia-	BE
tralia, with the advice and consent of the Legislative Council ment assembled, as follows:
ment Act, 1895," and, except so far as inconsistent therewith, shall incorpomtion, 1. This Act may be cited as The Inscription of Stock Amend- Short title m d
be incorporated with the Inscribed Stock Act of 1882."

of such Registrar: 11. To

INSCRIPTION OF STOCK.

2. All South Australian stock heretofore or hereafter sold shall, ~ ~ ~ ~ $ ~; ~ p " d

from and after the coming into operation of this Act, be inscribed General or in

in the office of the Agent-General for South Australia in London or Tr-q*

in the Treasury in Adelaide.

Stock in the office of the Agent-General aforesaid in London and be appointed. 3. The Governor shall appoint an officer to be Registrar of Bdstrazsof stook to

an officer to be Registrar of Stock in the Treasury in Adelaide.

aforesaid shall have and exercise in England, and the Registrar of Registrars 09 0took. 4. The Registrar of Stock in the office of the Agent-General Powers md duties af

Stock in the Treasury shall have and exercise in the said province, the following powers and duties, namely :-

I. To inscribe any stock heretofore or hereafter sold in the books

2 58' & 59' VICTORIE, No. 619.

The Inscription of Btock Amendment Act.-1 895.

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11. To effect the conversion of debentures into stock, and to

regulate transfers of stock:

111. To pay interest on stock:

IV. To issue stock certificates to bearer, and, as often as occasion

shall require, to re-inscribe stock certificates:

v. To issue scrip for deposits on loans raised by the sale of stock:

vx. And generally to conduct all business connected with the

inscription of stock.

lmpefi Act to	S, So much of the provisions of an Act of the Imperial Parlia- ment, 40 and 41, Victoria, Chapter 59, intitulcd The Colonial Stock Act, 1877," as is contained in the Schedule hereto shall apply to all stock inscribed in the Treasury in Adelaide.
Adelaide.

to ntock inscribed in

Without power of 6, Any inscribed stock may, if so desired by the Treasurer, be

redemption. sold and issued without power of redemption by instalments,

REGULATIONS AND OFFENCES.

Regulations, 7. The Governor may, by Proclamation in the Government Gazette, make, alter, or rescind such regulations as he may dcem necessary for carrying out the purposcs of this Act, and all such regulations shall be laid before Parliament within fourteen days after the publication thereof if Parliament be then sitting, and if Parliament be not then sitting within fourteen days after the com- mencement of the next Session thereof.

F O etocl~. ~ ~ 8. Whosoever shall forge or counterfeit, or shall utter or put off,

knowing the same to be forged or counterfeited, any stock certificate or coupon, or any document purporting to be a stock certificate or coupon, shall be guilty of felony, and, being convicted thereof, shall be liable to be imprisoned for any term not exceeding fourteen years

with h a d labor.

Fdeely monat'ig Q. Whosoever shall falsely and deceitfully personate any owner of any share or interest of or in any stock, or of any stock certificate or coupon, and shall thereby obtain or endeavor to obtain any stock certificate or coupon, or receive or endeavor to receive money due to such owner shall be guilty of felony, and, being convicted thereof, shall be liable to be imprisoned for any term not exceeding fourteen years with hard labor.

owner o stock. P"

Engraving plates,

&G,, without lawful 10. Whosoever without lawful authority or excuse, the proof

authority, whereof shall lie upon the party accused, shall engrave or make upon any plate, wood, stone, or other material, any stock certificate or coupon, or anything purporting to be a stock certificate or coupon, or to be a part of any such stock certificate or coupon, and whether in blank or filled up, or shall use any plate, wood, stone, or other material for the making or printing of any such stock certi-

.ficate

58" 1L 59' VICTORILE, No. 619. 3

l'%e 2izscription of &ock Amendment Act.-1895.

ficate or coupon, or any blank form, or any part thereof, or shall knowingly have in his possession any such plate, wood, stone, or other material on which shall be engraved any stock certificate or coupon or blank form, or any part thereof, or any paper on which shall be made or printed any stock certificate or coupon, or blank form, or part thcreof, or shall knowingly dispose of or put off any such paper, shall be guilty of felony, and, being convicted thereof, shall be liable to be imprisoned for any term not exceeding eight

years with hard labor.

11. Whosoever shall wilfully make any false entry in any stock False entries in stmk

register or other book kept for the inscription of stock shall be register.

guilty of a misdemeanor, and, being convictcd thereof, shall be liable

to be imprisoned for any term not exceeding two years with hard

labor.

12. Notwithstanding anything contained in The Public Pur- Amendment of ~ o t

poses Loan Act, 1892," the Treasurer may issue bonds in lieu of No. 649 af 1892.

stook for any portion of such loan as is thereby authorised.

I n the name and on behalf of Her Majesty, I hereby assent to

this Bill.

S. J. WAY, Lieutenant-Governor.

SCHEDULE.

No.

me Inscription of $tack Amendment Act.-1 895.

SCHEDULE.

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Sectious 4 to 7 and 9 (in part) to 18 of " The Colonial Stock Act, 1877," 40 & 41

Vict., ch. 59, as follow:-

Transfers and Diuidends.

Transfer of colonial

stock to which this Aat 4. Colonial stock, to which thie Act applies, while inscribed in a register kept in

applies. the United Kingdom, shall be transferred as follows:

(l j The transfer shall be made only in the register, and shall be signed by the transferor, or, if he is absent, by his attorney thereunto lawfully authorised by some writing executed under his hand and seal and attcsted:

(2) The transferee may, if he thinks fit, underwrite his acceptance of thc

transfer:

(3) The executors or administrators of a deceased stockholder shall alone be

recognised by the registrar as having any title to the stock or any dividend

thereon:

(4) The person becoming entitled to any ~toclr or dividend thereon in consequence

of the death, bankruptcy, or marriage ofthe stockholder, or of any devolu- tion in law from the stockholder or otherwise than by tran~Fer of the stock, shall produce such evidence of his title as may be reasonably requircd by the registrar, but the person 80 becoming entitled to any stock may transfer such stock to another person without being registered himself.

Cloning of reater for	5. The registrar may, for such period not exceeding fourteen days as he may from time to timc fix previous to ea.ch payment of dividend on any colonial stock to which this Act applies, close the register of' that stock as regards transfers, upon giving not less than seven days' notice of such closing by advertisement in some newspaper circulating generally in the place where the register is kept.
dividend.
The persons who on the day of such closing are inscribed as stockholders shall, as between them and thoir transferees of colonial stock, be entitled to the dividend then next payable thereon.
Dividends in case of	6. Where colonial stock to which this Act applies is standing in the name of an infant or person of unsound mind jointly with any person not under legal disability, a letter of attorney for the receipt of the dividends on the stock shall be sufficient authority in that behalf, if given under the hand and seal of the person not under disability, and attested.

iafrncp, &C.,	of a joint
atooltboldsr.

The registrar, before acting on the letter of attorney, may require proof to his satisfaction of the alleged infancy or unsoundness of mind, by the declaration of competent persons made under the " Statutory Declarations Act, 1835," or in such other manner as hc may rcasonably require.

Stock Certz~cates to Bearer.

stock certificate to

7, The registrar, if so authorised by the Government of a colony issuing stock to which this Act applies, shall, on application and payment of the fees and stamp duty, if any, chargeable in respect of the certificate, grant to a stockholder a certificate (in this Act called a ~itock certificate to hearer), which shall entitle the bearer to the stock therein desoribed, and ehall be transferable by delivery.

berm.

There shall be attached to such certificate coupons entitling the bearer of or person

named in the coupons to the dividend8 on the stock for a limited period.

Any stock in respect of which a stock certificate to bearcr has been so issued shall,

m long as such certificate is outstanding, cease to be dealt with through the medium

of the regipter.

A coupon so issued shall be deemed to be a cheque on a banker within the mean- ing of any law or enactment for the time being in force relating to cheques other

than any enactment relating to stamp duties.

9. on

No.

The Imcr@tion of Stock Amendment Act.-1895.

9. On the expiration of the period for which the coupons attached to a stock ~ ~ i ~ ~ 8 q f c o u p o ~ o r

certificate to bearer have been issued under this Act, the certificate may be exchanged

for another certificate with coupons for a further period.

10. On dclivery to the registrar of a stock certificate to bearer issued under this Conversion into nominal

Act, and of all unpaid coupons belonging thereto, the registrar shall enter the ,,t, to bsarer,	stock of stock in oertifl-
bearer in the register as proprietor of the stock described in the certificate, and thereupon that stock shall become transferable, and the dividends thereon payable, as if no stock certificate to bearer had been issued in respect of that stock.

11. If the bearer of a stock certificate to bearer issued under this Act insert therein conversion ot stook

the name, address, and quality of some person, such certificate shall cease to be ~ ~ ~ ~ $ ' ~ ~ ~ ~ ~ ~ i n b

transferable, and the person so named or some person deriving title from him by

devolution in law shall alone be recognised by the registrar as entitled to the stock

described in the certificate, and shall be entitled to be entered in the regi~ter as

proprietor of that stock in like manner as if he were the bearer of a stock certi-

ficate to bearer, but if deriving his titlc by devolution in law he shall produce such

evidence of his title as the registrar may reasonably require.

12. A trustee shall not apply for or hold a stock certificate to bearer issued under Trusteenot to apply to

this Act, unless expressly authorised to do so by the terms of his trust. But this 'Or beerer. "OCk

provision shall not impose on the registrar an obligation to inquire whether a person applying for a stock certificate to bearer is or is not a trustee, or subject the registrar to any liability in the event of his issuing a stock certificate to bearer to a trustee, or invalidate any stock certificate to bearer issued.

destroyed, the registrar shall, on such indemnity being given as he Inay reasonably to besuer. 13. If any stock certificate t o bearer issued under this q c t is lost, mislaid, or Lose of stock cartiflaete

require, and on payment of the expense of the issue, issue a fresh stock certificate

to bearer in the place of the certificatc so lost, mislaid, or destroyed.

14. Stock desFribed in a stock certificate to bearer issued under this Act shall, save as relates to the mode of stock in certificate to

transfer and payment of dividends, be subject to the same ~ ~ ' ' B ~ , " ~ ~ ~ $ ~ ~

incidents in all rcspects as if it had continued to be transferable in the register. to transfer, BC.

15. NO notice of any trust in respect of any colonial stock, Or of any certificate Noticeof trust.

thereof, or of any coupon annexed to such certificate, shall be entered in the register

or receivable by the registrar, or by the Government of the colony.

16. The registrar may, before the inscription of any stock, make, with respect to ~~t~~ in of

the transfer of such stock, or otherwise in relation to such stock, reasonable regula- ;,";,d::.on8and~u-

tions not inconsistent with the provisions of this Act.

A printed copy of the documents containing the authority for and conditions of the issue of stock to which this Act applies, and of all regulations with respect to the transfer of such stock or otherwise in relation to such stock, shall be entered in the register of the stock.

17. The register kept in pursuance of this Act shall on its mere production from Register to be evidence.

regards persons entered therein as proprietors of colonial stock to which this Act	the custody of the registrar be evidence of all matters entered therein, and, as	applies, of the title of those persons to that stock.
18. The registrar shall keep in a eeparate book a list of the stockholders on whose stock the dividends havc been unclaimed for ten years, together with their registered Information to be given

regpecting register.

addresses and description, and such book shall be open for inspection a t the usual hours of transfer upon payment of such fee not exceeding Two Shillings and Six Pence as may be fixed by the regulations.

*The registrar shall give, within a reasonable time after application, a certificatc stating the following particulars in relation to any colonial stock of which he is registrar, or any part of such stock, or such of those particulars as may be required by the applicant, namely-

(a) The total amount issued by the colony and the total inscribed in the register;

and

( b ) The total number of the persons in whose names the atock or part is originally inscribed, or, after the register of such stock or, part has been once closed as regards transfers, the total number of the stockholders at the last preceding date at which the transfer books were closed; and

( c ) The total number of each class of persons in whose names the stock or part is

originally inscribed, or, after the register of the stock or part has been once closed as regards transfers of each claas of stockholders at the last preceding date at which the transfer books were closed, the classification being according to the amount held, omitting fractions of Two Hundred'

Pounds; and (4 44

6 58" & 5g0 VICTORIW, No. 619.

The Imcription of Stock Amendment Act.-1895.

(d) A copy or extract, certified by the registrar or by some officer ap-

pointed for the purpose to be a true copy or extract, of any conditions or

regulations required by this Act to be entered in the register.

Provided that the registrar shall not be required to give any such certificate in relation to any colonial stock or part of such stock until after the expiration of one month after the stock or part of the stock to which the certificate relates has been inscribed.

Within a reasonable time after the application of any person who is a stockholder

of any colonial stock to which this Act applies, the registrar shall givc him a list of the registered names and addresses of the stockholders of such stock at the last preceding date at which the register was closed as regards transfers.

The registrar, before giving a certificate or list under this section, may require payment of such fee, not exceeding Five Shillings, and a further sum of Two Pence for every folio of seventy-two words, or, in the case of a list of names and addresses, of Six Pence for each name and address, as the registrar may from time to time fix.

Any certificate or list given under this section shall be admissible in evidence.

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Adelaide : By authority, C. E. BRISTOW, Government Printer,