National Security (Capital Issues) Regulations (Amendment) (Cth)

STATUTORY RULES.

1941. No. 150.

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REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1940.*

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 National Security Act 1939-1940.

Dated this fourth day of July, 1941.

GOWRIE

Governor-General.

By His Excellency’s Command,

A. FADDEN

for and on behalf of the Minister of State for Defence Co-ordination.

———

Amendments of the National Security (Capital Issues) Regulations. 

Parts.

1. Regulation 4 of the National Security (Capital Issues) Regulations is amended by inserting after the words “Part IV.—Provisions relating to Deposits.” the words “Part IVa.—Provisions relating to the Sale of Land.”.

2. After regulation 24 of the National Security (Capital Issues) Regulations the following regulation is inserted:—

Certain shares in building societies deemed to be deposits.

“24a. Where any principal money paid in respect of a share in a building society allotted after the thirtieth day of June, 1941, is withdrawn within three years after the date of allotment, that principal money shall be deemed to have been a deposit from the date of the allotment until the date the principal money is withdrawn, and the building society shall not pay to the owner of the share any amount so that the total amount paid in respect of principal, interest, dividends and other sums of a like nature, exceeds the total amount which would have been paid or payable under these Regulations in respect of a deposit equal in amount to the principal amount withdrawn and made for the same period.”.

 

* Notified in the Commonwealth Gazette on 4th July, 1941.

 Statutory Rules 1940, No. 218, as amended by Statutory Rules 1940, Nos. 242 and 291.

3954.—Price 3d

3. After Part IV. of the National Security (Capital Issues) Regulations the following Part is inserted:—

“Part IVa.—Provisions relating to the Sale of Land.

Application of Part.

“28a. In this Part, ‘land to which this Part applies’ means any parcel of land the whole or any portion of which is within—

(a) twenty-five miles from the General Post Office at Sydney or Melbourne;

(b)fifteen miles from the General Post Office at Brisbane, Adelaide, Perth or Hobart or from the principal Post Office at Newcastle; or

(c) any area specified by the Treasurer by order published in the Gazette.

Certain sales of land prohibited except with Treasurer’s consent.

“28b.—(1.) A person shall not, without the consent in writing of the Treasurer, enter into any contract for the sale of land to which this Part applies, where the total purchase money payable (including any moneys owing under any mortgage, charge or encumbrance on the land) exceeds Ten thousand pounds, and—

(a)the purchase money is not payable within one year from the date of the contract; or

(b) the contract gives to the vendor the right to repurchase the land.

“(2.) Where any such contract is entered into subject to the consent of the Treasurer thereto being obtained, the contract shall not be deemed to have been entered into in contravention of these Regulations if an application for the consent of the Treasurer is made within two months after the date of the contract but the contract shall not have any effect unless the Treasurer gives his consent thereto.

Variation of contracts of sale prohibited in certain circumstances except with Treasurer’s consent.

“28c. A person shall not, except with the consent in writing of the Treasurer, enter into any contract for the variation of, or which has the effect of varying, a contract entered into after the commencement of this regulation if the terms of the latter contract, as so varied, would be such that, if they had been contained therein originally, the contract would have been entered into in contravention of these Regulations unless the consent of the Treasurer had been obtained thereto.

Contracts to evade Regulations.

“28d. A person shall not enter into or make any contract or arrangement, whether orally or in writing, for the purpose of, or which has the effect of, in any way, and whether directly or indirectly, defeating, evading or avoiding, or preventing the operation of this Part in any respect.”.

4. Regulation 36 of the National Security (Capital Issues) Regulations is repealed and the following regulation inserted in its stead:—

Power to obtain information.

“36.—(1.) The Treasurer may, by order, require any person (including any officer employed in or in connexion with any department of a Government or by a local authority)—

(a) to furnish to the Treasurer, or to such other person as the Treasurer directs, such information as the Treasurer or that other person requires; and

(b) to attend and give evidence before the Treasurer, or such other person as the Treasurer directs,

with respect to any act, transaction, matter or thing prohibited by these Regulations, or to which any provision of these Regulations applies, and may require him to produce all books, documents and other papers whatever in his custody or under his control relating thereto.

“(2.) The Treasurer may require the information or evidence to be given on oath or affirmation and either orally or in writing and for that purpose the Treasurer or person before whom the evidence is given may administer an oath.

“(3.) A person shall not—

(a) refuse or fail to comply with any requirement made in pursuance of sub-regulation (1.) or (2.) of this regulation; or

(b) with intent to evade the provisions of these Regulations, destroy, mutilate, deface, secrete or remove any book, document or other paper.”.

 

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