National Security (Land Transfer) Regulations (Amendment) (Cth)

STATUTORY RULES.

1940. No. 239.

 

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 first day of November, 1940.

GOWRIE

Governor-General.

By His Excellency’s Command,

W. M. HUGHES

for Minister of State for Defence Co-ordination.

 

Amendments of the National Security (Land Transfer) Regulations.

Definitions.

1. Regulation 2 of the National Security (Land Transfer) Regulations is amended—

(a) by inserting, before the definition of “enemy alien”, the following definition:—

“‘company to which these Regulations apply’ means an incorporated company formed on or after the twenty-fourth day of July, 1940, in which there are not more than twenty-five shareholders and in which at least one-third in value of the shares are held by one or more of the following classes of persons, namely:—

(a) Enemy aliens;

(b) Naturalized persons of enemy origin; and

(c) Subjects of countries in enemy occupation;”; and

(b) by adding at the end thereof the following sub-regulation:—

“(2.) For the purposes of this regulation, shares shall be deemed to be held by one or more of the following classes of persons, namely:—

(a) Enemy aliens;

(b) Naturalized persons of enemy origin; and

(c) Subjects of countries in enemy occupation,

if they are held by a company in which at least one-third of the shares are held by one or more of such classes of persons.”.

 

* Notified in the Commonwealth Gazette on 1st November, 1940.

  Statutory Rules 1940, No. 141, as amended by Statutory Rules 1940, Nos. 148 and 200.

6803.—Price 3d.

Mortgages to secure balance of purchase money.

2. Regulation 12 of the National Security (Land Transfer) Regulations is amended by omitting the words “or a subject of a country in enemy occupation” (wherever occurring) and inserting in their stead the words “, a subject of a country in enemy occupation or a company to which these Regulations apply”.

Applications for Attorney-General’s consent.

3. Regulation 15 of the National Security (Land Transfer) Regulations is amended—

(a) by inserting in sub-regulation (1.), after the word “application” (second occurring), the words “or, in the case of a company to which these Regulations apply, the name, address of the registered office and place of incorporation, of the company”; and

(b) by inserting, after that sub-regulation, the following sub-regulation:—

“(1a.) An application for the consent of the Attorney-General to a transaction to which a company to which these Regulations apply is a party may be made by the Chairman of Directors or the Secretary of the company, and the accompanying statutory declaration shall, in addition to the particulars specified in the last preceding sub-regulation, give full particulars of the names, addresses, nationality and shareholding of the respective shareholders of the company.”.

4. After regulation 16 of the National Security (Land Transfer) Regulations the following regulation is inserted:—

“Transactions to which companies are parties.

16a. Any provision of regulations 7, 8, 9 and 16 of these Regulations which prohibits any transaction without consent, shall extend to prohibit, to the same extent, any transaction to which a company to which these Regulations apply, or to which a person acting for or on behalf of any such company, is a party.”.

Provisions relating to existing contracts.

5. Where, prior to the commencement of these Regulations, any contract or agreement has been entered into which, if it had been entered into after the commencement of these Regulations, would have been prohibited without consent, a person shall not execute any instrument to give effect to the contract or agreement unless the consent of the Attorney-General has been obtained.

 

By Authority: L. F.