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

STATUTORY RULES.

1945. No. 187.

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REGULATION UNDER THE NATIONAL SECURITY ACT 1939-1943.*

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 1939-1943.

Dated this sixth day of December, 1945.

HENRY

Governor-General.

By His Royal Highness’s Command,

J. B. CHIFLEY

for and on behalf of the Minister of State for Defence.

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Amendment of the National Security (Capital Issues) Regulations. 

Regulation 7a of the National Security (Capital Issues) Regulations is repealed and the following regulation inserted in its stead:—

Syndicates, &c.

“7a.—(1.) The object of this regulation is to supplement the provisions of this Part relating to companies by providing for the control of the raising of money by persons other than companies from the public or any section of the public for the purpose of business, commercial or industrial enterprises, to an extent which would be prohibited, in the case of companies, except with the consent of the Treasurer, and this regulation shall be administered accordingly.

“(2.) Except with the consent of the Treasurer, a person (other than a body corporate) or persons carrying on, or proposing to early on, either alone or together with other persons, any business shall not, whether directly or through the interposition of trustees or agents or otherwise indirectly, accept from any person any valuable consideration

 

* Notified in the Commonwealth Gazette on 6th December, 1945,

  Statutory Rules 1940, No. 218, as amended by Statutory Rules 1940, Nos. 242 and 291; 1941, Nos. 150 and 301; 1942, Nos. 23, 126. 196, 366 and 424: and 1945, Nos. 26, 107 and 133.

7103.—Price 3D.

in consideration of any persons becoming entitled, either immediately or upon any condition or contingency, to, or to an option to acquire, an interest or increased interest in the business or in the profits or assets of the business where—

(a) the total number of persons from whom any valuable consideration has been or is so accepted, together with any other persons who have as interest in the business or in the profits or assets thereof, exceeds nineteen in number; and

(b) the total amount or value of the consideration so accepted during the preceding year (including the amount then accepted) would exceed Ten thousand pounds.”.

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