Loans Securities Regulations (Cth)

Loans Securities Regulations

Statutory Rules 1937 No. 28 as amended

made under the

Loans Securities Act 1919

This compilation was prepared on 12 August 2004

taking into account amendments up to SR 1967 No. 135

Prepared by the Office of Legislative Drafting,

Attorney-General’s Department, Canberra

Contents

    1Citation [see Note 1]

 These Regulations may be cited as the Loans Securities Regulations.

2Delegation

(1) The Treasurer may, by writing under his hand, delegate to the Secretary to the Treasury all or any of his powers or functions under these Regulations (except this power of delegation) so that the delegated powers or functions may be exercised by the Secretary to the Treasury.

(2)

A delegation under this regulation shall be revocable at will, and shall not prevent the exercise of any power or function by the Treasurer.

3Lost, stolen, destroyed or mutilated securities

(1)Where a security is accidently lost, stolen, destroyed or mutilated before it is paid off, the owner may apply to the Treasurer for the issue of a certificate under this regulation.

(2)

If the Treasurer is satisfied:

• (a)

  that the security has been accidentally lost, stolen, destroyed or mutilated;

• (b)

  that the applicant is the owner of the security; and

• (c)

  that, in the case of a lost or stolen security, the applicant has not seen the security within the period of five years immediately preceding the date of the application,

the Treasurer may, subject to this regulation, and upon the applicant giving an indemnity bond to the satisfaction of the Treasurer to indemnify the Commonwealth against double payment of the security, including interest thereon, issue to the applicant a certificate, in accordance with a form approved by the Treasurer, of the indebtedness of the Commonwealth to the applicant in respect of the security.

(3)

Where, in the opinion of the Treasurer, some person other than the owner has an interest in a lost, stolen, destroyed or mutilated security, the Treasurer may refuse to issue a certificate to the applicant unless:

• (a)

  the consent in writing of that person has first been obtained; or

• (b)

  in such cases as the Treasurer thinks fit, that other person gives an indemnity bond as provided by the last preceding subregulation.

(4)

The preceding provisions of this regulation do not prevent the issue of a security in accordance with terms and conditions determined under section 3 of the Act that make provision with respect to the issue of a security in place of a security that is lost, stolen, destroyed or mutilated before it is paid off.

Notes to the Loans Securities Regulations

Note 1

The Loans Securities Regulations (in force under the Loans Securities Act 1919) as shown in this compilation comprise Statutory Rules 1937 No. 28 amended as indicated in the Tables below.

Table of Statutory Rules

Year and number	Date of notification in Gazette	Date of commencement	Application, saving or transitional provisions
1937 No. 28	11 Mar 1937	11 Mar 1937
1967 No. 135	29 Sept 1967	29 Sept 1967	—

Table of Amendments

ad. = added or inserted  am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
R. 3.........................................	am. 1967 No. 135