National Security (Enemy Property) Regulations (Amendment) (Cth)

STATUTORY RULES.

1957. No. 5.

 

REGULATION UNDER THE TRADING WITH THE ENEMY ACT 1939-1952.*

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 Trading with the Enemy Act 1939-1952.

Dated this 22nd day of February, 1957.

W. J. Slim

Governor-General.

By His Excellency’s Command,

(Sgd.) A. W. FADDEN

for and on behalf of the Minister of State for Customs and Excise.

 

Amendment of the National Security (Enemy Property) Regulations. 

Controller may dispose of property.

Regulation 16eof the National Security (Enemy Property) Regulations is amended by adding at the end thereof the following sub-regulation:—

“(2.) The Controller in exercising the power conferred on him by this regulation to sell or otherwise dispose of any shares in, or stock or other securities of, a company or corporation is not bound by any provision in any other law or in the constitution or rules of the company or corporation which restricts the right to transfer shares, stock or other securities or imposes conditions as to the price at which, or the persons to whom, shares, stock or other securities are to be offered or sold, and where the Controller in exercise of that power executes a transfer (including a transfer by way of sale) of shares, stock or other securities, the company or corporation shall, upon receipt of the transfer, do all things necessary to give effect to the transfer notwithstanding any such provision and notwithstanding that the Controller is not in possession of the certificate, scrip or other document of title relating to the shares, stock or securities or is not entered in the books of the company or corporation as the proprietor of the shares, stock or other securities.”.

 

* Notified in the Commonwealth Gazette on , 1957.

  Being the Regulations having that title as in force under the Trading with the Enemy Act 1939-1952. The Regulations under the National Security Act 1939-1946 having the corresponding title were Statutory Rules 1942, No. 268, as amended by Statutory Rules 1943, No. 88; and 1944, No. 79. Those Regulations were amended by the Defence (Transitional Provisions) Act 1946, by Statutory Rules 1946, No. 194, by section 15a of the Trading with the Enemy Act 1939-1952 (inserted by Act No. 75 of 1947); by Statutory Rules 1952, No. 24; and by Statutory Rules 1953, No. 30.

 

By Authority: A. J. Arthur, Commonwealth Government Printer, Canberra.

7378/56.—Price 3d. 9/10.1.1957.