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

STATUTORY RULES.

1940. No. 115.

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REGULATION UNDER THE NATIONAL SECURITY ACT 1939.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulation under the National Security Act 1939.

Dated this twenty-first day of June, 1940.

GOWRIE

Governor-General.

By His Excellency’s Command,

PERCY C. SPENDER

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

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Amendment of the National Security (Capital Issues) Regulations. 

Consent of Treasurer.

Regulation 10 of the National Security (Capital Issues) Regulations is amended by adding at the end thereof the following sub-regulations:—

“(3.) The Treasurer may refuse to grant any consent under any provision of these Regulations until there are first executed such agreements (including agreements with persons other than the applicant for the consent) with the Treasurer relating to the transaction in respect of which consent is applied for as the Treasurer requires.

“(4.) Any agreement under the last preceding sub-regulation—

(a) may provide for the payment of a sum of money, whether by way of liquidated damages, penalty or otherwise, for the breach or non-performance thereof and for the taking of security for the payment of any such sum; and

(b) shall not be held to be void on the ground of any want of consideration therefor, and the parties thereto shall have, in all Courts, the same rights and remedies as if the agreement had been supported by valuable consideration”.

 

* Notified in the Commonwealth Gazette on 24th June, 1940.

  Statutory Rules 1939, No. 149, as amended by Statutory Rules 1939, No. 162; 1940, No. 56; and 1940, No. 83.

 

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

3931.—Price 3d.