Public Authorities (Financial Arrangements) Act 1987 Regulation relating to transfer of inscribed stock (1995-175) [GG No 57 of 12.5.1995] (NSW)

1995—No. 175

PUBLIC AUTHORITIES (FINANCIAL ARRANGEMENTS)

ACT 1987—REGULATION

(Relating to transfer of inscribed stock)

NEW SOUTH WALES

[Published in Gazette No. 57 of 12 May 1995]

HIS Excellency the Governor, with the advice of the Executive Council, and in pursuance of the Public Authorities (Financial Arrangements) Act 1987, has been pleased to make the Regulation set forth hereunder.

Michael Egan

Treasurer.

The Public Authorities (Financial Arrangements) Securities Regulation

1982 is amended:

(a) by inserting in clause 8 (1) after the word “loan” the words “(including any conditions restricting the transfer of the stock)”;

(b) by inserting after clause 18 (2) the following subclause:

(3) An authority may issue inscribed stock subject to conditions restricting the transfer of the stock, and the power of the owner of inscribed stock to transfer the stock is subject to any such conditions.

EXPLANATORY NOTE

The object of this Regulation is to clarify the power of authorities to issue inscribed

stock subject to conditions restricting its transfer.

This Regulation is made under the Public Authorities (Financial Arrangements) Act

1987, including section 43 (the general regulation making power).