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

STATUTORY RULES.

1940. No. 83.

 

REGULATIONS 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 Regulations under the National Security Act 1939.

Dated this eighth day of May, 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.

 

Amendment of the National Security (Capital Issues) Regulations. 

Commencement.

1. These Regulations shall commence on the fifteenth day of May, 1940.

2. After regulation 16 the National Security (Capital Issues) Regulations the following regulation is added:—

Validity of certain transactions to be preserved.

“17.— (1.) Nothing in these Regulations shall have the effect of invalidating any mortgage or charge entered into in contravention of these Regulations where the amount of the mortgage or charge does not exceed Five thousand pounds and—

(a) the instrument (if any) of mortgage or charge contains a declaration by the mortgagor or charger, or

(b) if there is no such instrument, the mortgagor or charger, at the time he gives the mortgage or charge, delivers to the mortgagee or charger a statutory declaration,

containing statements from which it appears that the consent of the Treasurer to the mortgage or charge is not required.

“(2.) A person shall not make, in any declaration or statutory declaration made under the last preceding sub-regulation, any statement which is false or misleading in any particular.

“(3.) Where any mortgage or charge the amount of which did not exceed Five thousand pounds, was, prior to the commencement of this regulation, entered into in contravention of these Regulations, the mortgage or charge shall have the same force and effect as if it had not been entered into in contravention of these Regulations.”.

 

* Notified in the Commonwealth Gazette on 9th May, 1940.

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

 

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

2562.—Price 3d.